DBM releases 97% of 2024 budget

The government has released P5.59 trillion or about 97 percent of the record P5.768 trillion allocation as of end-August 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 released a total of P5.59 trillion of the 2024 budget as of end-August.

This represents 96.9 percent of the national budget for the year. The amount is also higher than the 95.3 percent recorded in the same period in 2023.

Based on DBM data, the government had released P3.82 trillion under the 2024 General Appropriations Act (GAA), accounting for more than 95 percent of the total P4.01 trillion financing.

Under the 2024 GAA, the DBM said it has distributed 97.9 percent or P3.43 trillion of the P3.5 trillion to various government departments.

In terms of special purpose funds, releases rose to 77.5 percent, which means f that P393.43 billion has been handed out from the P507.48 billion allocation.