THE Department of Budget and Management said it had released 95.8% of the 2023 national budget by the end of October.
This was equivalent to P5.294 trillion of the adjusted P5.529-trillion 2023 spending program.
The budget this year was pegged at P5.268 trillion, with adjustments amounting to P261.1 billion.
The release rate was behind the year-earlier pace of 97%.
At the end of October, P234.9 billion remained undistributed from the budget.
In the first 10 months of the year, releases to government agencies and departments amounted to P3.07 trillion, or 97.7% of their allocations.
Special Purpose funds released by the end of the month amounted to P426.2 billion, representing 82.5% of the funds allocated.
Automatic Appropriation releases amounted to P1.47 trillion, or 91.8% of the total.
These include the P1.15 billion for retirement and life insurance premiums of various National Government agencies and P10 billion for the Rice Competitiveness Enhancement Fund. — Luisa Maria Jacinta C. Jocson
