INQUIRER FILE PHOTO
The government agencies’ cash utilization rate stood at 99 percent in the first half of the year, the Department of Budget and Management (DBM) said on Friday.
The DBM said that national agencies and local governments, as well as state-owned corporations were able to use P2.23 trillion out of P2.25 trillion worth of notices of cash allocations (NCAs) issued as of the end of June.
To compare, this was a notch higher from 98 percent utilization rate in the same period last year when government agencies used P2.01 trillion out of P2.05 trillion NCAs issued.
READ: Budget utilization rate at 94% as of Oct, says DBM
Unused cash allocations amounted to P21.92 billion in June, lower than P46.43 billion that government agencies failed to use last year.
An NCA refers to quarterly authority given by the DBM to agencies to withdraw money from the Treasury to fund their programs and spending requirements.
Last month, the budget department asked government agencies who are underspending to come up with their plans to further increase their fund utilization rate. —MARIEDEL IRISH U. CATILOGO