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State agencies post better spending rate in 8 months
The Philippine Star
|September 21, 2024
The government ramped up the releases of cash allocations, with state agencies remaining in a higher spending mode from January to August compared to a year agp.
Data from Department of Budget and Management (DBM) showed that notices of cash allocation (NCAs) grew by almost 10 percent to P3.12 trillion as of end-August from P2.85 trillion in the same period last year.
Even with the increase, government agencies recorded a slightly higher utilization rate of 95 percent from 93 percent in the eight-month period in 2023.
This means that of the total releases, some P161.97 billion was unused as of end-August.
NCAs are disbursement orders by the DBM to government banks servicing the release of funds to agencies. State agencies are expected to use the NCAs to pay for the cash requirements of their programs and projects.
A higher utilization ratio indicates greater capacity of agencies to implement their programs and projects.
This story is from the September 21, 2024 edition of The Philippine Star.
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