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Manila Bulletin devider Business devider DBM disburses P88 billion in May, bulk goes to roads

DBM disburses P88 billion in May, bulk goes to roads

Published Jun 22, 2024 10:11 pm

The government released over P88 billion in May with the bulk of it going to the Department of Public Works and Highways (DPWH) to fund its foreign-assisted projects.

Data from the Department of Budget and Management showed that the DPWH was allotted P46.9 billion for its capital outlays to cover the loan requirements of foreign-assisted projects for the second to fourth quarter, and P6 billion for road projects.

The Bureau of Fire Protection was allocated a total of P2.9 billion for its firetrucks and emergency medical equipment, while the Department of National Defense was given P2.8 billion for the modernization project of the Philippine Navy.

On the other hand, the DBM handed the National Irrigation Administration an additional P2.1 billion for the Jalaur River Multipurpose Project Phase II, the Department of Transportation with P1.6 billion for the Cebu Bus Rapid Transit Project, and Technical Education and Skills Development Authority with P1.6 billion for its technical and vocational education training project.

The DBM also allocated P1 billion to the Philippine National Police in April for the funding of its national headquarters.

“Further releases are anticipated in the succeeding months as line agencies submit their special budget requests to implement their respective programs, activities, and projects. These will consequently accelerate the pace of government spending for the rest of the year,” the budget agency stated.

Given the preliminary data, the DBM said it expects the robust disbursement performance to be sustained in May with a strong two-digit growth rate compared to the 0.9 percent expansion recorded for the same month last year.

Government spending inched up in May 2023 by P4.0 billion or 0.9 percent year-on-year, amounting to P455.7 billion.

Meanwhile, in the first four months of this year, total allotment releases reached P4.95 trillion, equivalent to 86.0 percent of the P5.76 trillion obligation program for the year, while allotment releases for April amounted to P88.7 billion.

For April, government disbursements jumped by 32.2 percent to P494.5 billion, growing by P120.6 billion year-on-year.

Year-to-date, the national government spent P1.70 trillion, up by 16.2 percent from P1.46 trillion recorded in the same period of 2023.
 

Related Tags

notice of cash allocation Department of Budget and Management (DBM) DISBURSEMENTS
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