Budget utilization rate at 92% as of H1

The government has released P5.3 trillion or about 92 percent of the record P5.768-trillion allocation as of the first semester of the year as state agencies move to implement their priority programs.

- LOUISE MAUREEN SIMEON

Latest data from the Department of Budget and Management (DBM) showed that it has issued P5.3 trillion of the 2024 budget as of end-June.

This represents 91.8 percent of the national budget allocated for the year. This is also higher than the 89.9 percent recorded in end-June 2023.

Based on data, the DBM released a total of P3.73 trillion under the 2024 General Appropriations Act (GAA). This is 93.1 percent of the total P4.01 trillion financing.

Under the 2024 GAA, the DBM said it has distributed 97.7 percent or P3.42 trillion of the P3.5 trillion for departments.

In terms of special purpose funds, releases rose to 61.2 percent which means that P310.67 billion has been handed out from the P507.48 billion allocation.

On the other hand, automatic appropriations are already at 78.9 percent or about P1.39 trillion of the P1.76 trillion aggregate funding.