DBM releases P3.51T of 2021 budget

THE Department of Budget and Management (DBM) released P3.51 trillion of the 2021 budget in the first quarter, data showed on Wednesday.

Data from the DBM showed that allotment releases in January-March was 78 percent of the P4.50-trillion program of the government. The latest figure was higher than the P3.21 trillion released in the first three months of 2020.

Of the total, P2.29 trillion went to line departments, which include funds allocated to agencies and other constitutional offices.

A total of P115.99 billion was released as special purpose funds (SPFs), which are budgetary allocations in the General Appropriations Act for specific socioeconomic purposes.

These are usually lump sum in nature, as the recipient agencies and/or specific programs and projects were not identified during the budget’s preparation and legislation. SPFs are used as budgetary support for government corporations; allocation to local government units; and contingency, miscellaneous personnel benefit, national disaster risk reduction and management, and pension and gratuity funds.

Allotment releases for automatic appropriations or appropriations programmed annually reached P1 trillion. These include P56.36 billion for retirement and life insurance premiums, P695.49 billion for internal revenue allotment, P71.66 billion for block grant, P480,000 for pension of ex-presidents and widows of former presidents, P30.39 for special account for the general fund, P7.17 billion for net lending, P132.88 billion for interest payments, and P6.84 billion for tax expenditures fund/customs duties and taxes.

Other releases amounted to P99.77 billion, which includes the 2020 continuing, unprogrammed and other automatic appropriations.