DBM says it has released more than half of 2023 budget

Department of Budget and Management Secretary Amenah Pangandaman speaks during the weekly Kapihan sa Manila Bay forum held at Café Adriatico in Malate, Manila in this file photo taken on December 14, 2022. INQUIRER.net file photo / Ryan Leagogo

MANILA, Philippines — More than half or 56.4% of budget allocations for 2023 have already been released, the Department of Budget and Management (DBM) said Monday.

DBM said that as of Jan. 31, allotment releases have amounted to P2.97 trillion out of the P5.27 trillion national budget for fiscal year 2023.

“We know that the timely release of budget is crucial in the implementation of government programs and projects. Makakaasa po ang taumbayan na ipagpapatuloy ng DBM ang mabilis na pag-release ng budget para sa iba’t-ibang programa at proyekto ng gobyerno,” DBM Secretary Amenah Pangandaman said in a statament.

(The public can count on the DBM to continue to timely release of the budget of various programs and projects of the government.)

“Further, in order to ensure the implementation of their respective programs and projects, we strongly encourage agencies to start their procurement activities early,” she added.

The DBM said the released budget allotments translates to 81.3% of the P3.16 trillion specific budgets of departments.

This has been released to spending agencies at the start of the year through allotment orders, it added.

“The released allotments pertain to implementation-ready programs/projects,” the agency said.

The DBM said the remaining balance of P590.48 billion from the departments’ budgets correspond to new budgetary programs/projects to be released subject to agencies’ submission of special budget request supported by updated agency performance targets.

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