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Manila Bulletin devider Business devider DBM assures timely budget releases

DBM assures timely budget releases

Published Feb 20, 2023 03:54 pm

The Department of Budget and Management (DBM) said it will continue the timely release of budgets for the year to fund “crucial” government programs and projects.

Budget Secretary Amenah F. Pangandaman said on Monday, Feb. 20, that the DBM’s released allotments stood at 56.4 percent of the total program as of January 31, 2023.

In nominal terms, aallotment releases amounted to P2.97 trillion out of the P5.27 trillion national budget for fiscal year (FY) 2023.

"We know that the timely release of budget is crucial in the implementation of government programs and projects. You can count on DBM,” Pangandaman assured.

“We will do this in an efficient, transparent and prudent manner so we remain on track in attaining the 8-Point Socioeconomic Agenda of the Marcos Jr Administration," she added.

In order to ensure the implementation of their respective programs and projects, Pangandaman added that they strongly encourage agencies to start their procurement activities early.

Under the FY 2023 national budget, total allotment of P2.57 trillion or 81.3 percent of the P3.16 trillion specific budgets of the departments have already been released by the DBM to spending agencies at the start of the year.

The released allotments pertain to implementation-ready programs/projects.

Meanwhile 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.

To recall, during the Budget Forum for the preparation of the FY 2024 national budget, Pangandaman, reminded the spending agencies to ensure that only implementation-ready programs and projects should be included in the FY 2024 budget.

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Department of Budget and Management DBM Budget Secretary Amenah F. Pangandaman
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