The government has released P5.1 trillion or about 89 percent of the record P5.768 trillion allocation this year as agencies ramp up their various programs.

Latest data from the Department of Budget and Management (DBM) showed it has issued a total of P5.11 trillion of the 2024 budget as of end-May.

This represents 88.7 percent of the national budget allocated for the year, just slightly below the 88.9 percent in May 2023.

The DBM released P3.68 trillion under the 2024 General Appropriations Act (GAA). This is 91.7 percent of the total P4.01 trillion financing.

Under the 2024 GAA, the DBM said it has distributed 97.6 percent or P3.42 trillion of the P3.5 trillion for departments.

In terms of special purpose funds, releases inched up to 50.9 percent which means that P258.43 billion has been handed out from the P507.48 billion allocation.

On the other hand, automatic appropriations are already at 75.4 percent or about P1.33 trillion of the P1.76 trillion aggregate funding.

As of the end-May, the DBM has fully released allocation for the national tax allotment (P871.36 billion), block grants (P70.51 billion) and pensions of former presidents or their widows (P480,000).

During the month, the government also fully freed up allocation for the tax expenditure fund at P14.5 billion.

Similarly, the government released more funds for interest payments, which is now at P260.49 billion or 38.9 percent of the P670.47 billion total funding for 2024.

For May, the DBM did not disburse extra funds for net lending as it remained at P7.18 billion, which is 25 percent of the P28.7 billion earmarked for the year.

The DBM also freed up the entire P65.79 billion in retirement and life insurance premiums (RLIP) of state workers as early as January and added some P581.42 million in extra funds as of end-May.

Last month, the DBM likewise issued additional releases to the special account in the general fund which is now at 97.9 percent or P35.72 billion of the P36.48 billion allocation.

Meanwhile, the DBM recorded P112.78 billion in other releases as of May, 76 percent of which at P85.37 billion went to unprogrammed appropriations.

Unprogrammed appropriations provide standby authority to incur additional agency obligations for priority programs or projects when revenue collection exceeds targets or when additional grants or foreign funds are generated.

Of the unprogrammed funds, P66.38 billion was earmarked to support the foreign-assisted projects of the Departments of Agriculture, Finance, Health, Public Works and Highways, Social Welfare and Development, Labor and Employment and Transportation.

There was also a P10.16 billion that served as budgetary support to state-run firms particularly the National Food Authority and the Light Rail Transit Authority.

Another P6 billion was released to DPWH for the maintenance, repair and rehabilitation of infrastructure facilities of national roads. The remaining P2.84 billion was for the Panay-Guimaras-Negros Island Bridges project of the DPWH.

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