Philippine agencies hit 94.4% cash-use rate as budget scrutiny intensifies

PHILIPPINE government agencies posted a 94.4% cash-use rate as of end-October, slightly above last year’s pace despite heightened scrutiny over graft-tainted flood control projects and congressional insertions, the Department of Budget and Management (DBM) said.

- — Aubrey Rose A. Inosante

Agencies, local governments and state-owned companies used P3.92 trillion of the P4.15 trillion in notices of cash allocation (NCAs) released during the period, leaving P230.29 billion unused.

NCAs authorize agencies to draw funds from government banks to cover their cash requirements.