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Agencies' budget usage rate improves to 70%
The Philippine Star
|February 24, 2024
State agencies recorded a better spending rate at the start of the year as the government ramped up the release of its cash allocations to fund various projects.
Latest data from the Department of Budget and Management (DBM) showed that notices of cash allocation (NCAs) rose by three percent to P293.56 billion in January from P284.47 billion in the same month in 2023.
Likewise, utilization rate improved to 70 percent from 66 percent. A higher utilization ratio indicates greater capacity of agencies to implement their programs and projects.
Of the total releases, the DBM said P205.02 billion was utilized, while P88.54 billion was unused last month.
The DBM earlier called on state agencies to ramp up their spending as the low budget utilization tends to impact economic growth.
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