DBM says it has released 92.3 percent of the national budget this year despite the COVID-19 pandemic.
The Department of Budget and Management said it has released 92.3 percent of the national budget this year despite the COVID-19 pandemic.
A total of ₱ 234.45 billion or about half was also released for “Special Purpose Funds,” which covers specific socio-economic purposes such as budgetary support to government corporations, allocations to local government units, contingent fund, miscellaneous personnel benefits fund, National Disaster Risk Reduction and Management Fund, and pension and gratuity fund.
Under unprogrammed appropriations, or allocations that allow for additional agency expenditures for priority programs and projects, ₱149.77 billion has been released, DBM said. Meanwhile, the Monetary Board approved $6.840-billion worth of foreign borrowings of the national government in the second quarter of 2020.
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