DBM says P5.97B expired in Bayanihan 2 budget

FILE PHOTO: A woman takes a polymerase chain reaction (PCR) test. REUTERS/Navesh Chitrakar/File Photo

MANILA, Philippines — Only P5.97 billion of funds under the Bayanihan 2 expired after the law lapsed on June 30 this year, the Department of Budget and Management (DBM) said Tuesday.

The DBM explained that of the over P214 billion released funds under Bayanihan 2,  about P200 billion were obligated and at least P189 billion were disbursed, leaving a balance of P13.88 billion in which P5.97 billion were reverted to the general fund after the law expired.

It also said that out of the P387 billion allotment released under the Bayanihan 1, P369 billion has been obligated and P357 billion has been disbursed.

“Other releases outside the Bayanihan laws have also reached P77.22 billion wherein agencies have obligated P31.34 billion and disbursed P13.82 billion, respectively,” it noted in a statement.

All in all, the DBM said it released more than P679 billion for the government’s COVID-19 pandemic response as of June 30.

Of the sum, P600 billion has been obligated while P550 billion has been disbursed.

This, DBM said, is equivalent to 88.4% obligation rate and 91.7% disbursement rate.

Funds released from the 2021 budget cover the ongoing procurement of COVID-19 vaccines, it further pointed out.

Unobligated funds from the 2020 and 2021 budgets are still valid until December 31, 2021, DBM said.

KGA