THE government has released over P5 trillion or about 92 percent of the P5.768-trillion 2024 national budget, data from the Department of Budget and Management (DBM) showed.
The DBM has already disbursed P5.3 trillion of the 2024 national budget as of June 30, 2024.
This accounts for 91.8 percent of the national budget, slightly up from the 89.9 percent recorded in the same month last year.
Under the 2024 General Appropriations Act (GAA), the DBM disbursed a sum of P3.73 trillion, which constitutes 93.1 percent of overall financing amounting to P4.01 trillion.
Additionally, the DBM reported that it disbursed 97.7 percent, equivalent to P3.42 trillion, of the allocated P3.50 trillion for government departments, which is also under the GAA.
On special purpose funds, disbursements were at 61.2 percent, totaling P310.67 billion out of the total allocation of P507.48 billion.
Meanwhile, releases for automatic appropriations were recorded at 78.9 percent, amounting to P1.39 trillion out of the total aggregate funding of P1.76 trillion.
There was also an increased allocation for interest payments in June, reaching 48.0 percent, equivalent to P321.59 billion, out of the designated P670.47 billion.
Additionally, funds for net lending remained at 25 percent to P7.18 billion out of the P28.7 billion allocated.
The DBM has proposed a P6.352-trillion budget for next year, 10.1-percent higher than this year’s P5.768-trillion budget, which is equivalent to 22 percent of gross domestic product.
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