DBM releases 75% of nat'l budget as of 1st semester

The Department of Budget and Management announced on July 17 that it has already released Php 1.36 trillion or 74.9 percent of the 2012 national budget as of June 30, 2012.

A press statement from the DBM said 94 percent of these fund releases went to national government agencies.

"We affirm the administration's continuing commitment to expedite fund releases to government departments and agencies. Beyond driving our fiscal momentum forward, the releases also help ensure that agencies will have the sufficient means and capacity to roll out their programs and deliver quicker benefits to all Filipinos," Budget and Management chief Florencio B. Abad said.

DBM said releases for personal services and maintenance and other operating expenses have reached Php 425.25 billion and Php 216.7 billion, respectively, or 99.8 percent and 98.4 percent of the full-year program. Releases for Capital Outlays also reached Php 162.3 billion by the end of the first semester, or 78 percent of the full-year program.

Of the released department budgets, the Department of Public Works and Highways received Php 78 billion for the construction and rehabilitation of national arterial and secondary roads and bridges and the implementation of major flood control projects; as well as Php 16.72 billion for foreign-assisted roads and flood control projects.

Financial assistance to indigent families through the Pantawid Pamilyang Pilipino Program of the Department of Social Welfare and Development received Php 43.21 billion, with an additional Php 1.23 billion released to the agency to support the social pension for indigent senior citizens across the country, DBM said.

The Department of Agriculture, meanwhile, received Php 37.2 billion in releases, Php 22.07 billion of which are being used for the construction, restoration, and rehabilitation of national irrigation projects. Of the total release, Php 12.68 billion was also set for the implementation of rice and fisheries programs, while another Php 2.5 billion was released for the construction of farm-to-market roads.

"As we continue to plug more funds into the administration's priority programs, we ask all agencies to optimize the releases made to them. This way, the implementation of key projects will proceed as scheduled, and the agencies themselves can speed up critical service delivery to the public," Abad said.

Special Purpose Funds also figure significantly in the releases made, with Php 79.55 billion or 33.4 percent of the programmed Php 237 billion already released. This is a seven-percentage point jump from the 26.4 percent release rate last month.

A sizeable portion of these releases are for salary increases for government employees under the third tranche of the Salary Standardization Law III, amounting to Php 29.05 billion. Payment for terminal leaves and retirement benefits of retiring government employees of Php 10.99 billion was also released.

"Now that we're in the second semester of the fiscal year, it's even more crucial for us to fulfill the administration's socio-economic agenda. The national budget will continue to support the empowerment of the country's poor and vulnerable, as well as facilitate macroeconomic stability and long-term economic growth," Abad said. - PIA — ARA