Only P331B left to spend this year as budget releases surge in October — DBM
“Build, Build, Build” also means “spend, spend, spend.”
Total disbursements surged by a solid 28.2 percent in October to post the biggest growth so far this year, with total spending at P226.9 billion, the Department of Budget and Management (DBM) said.
Disbursements for maintenance and operating expenses doubled during the month to hit P40.4 billion as the government paid cash assistance and social pensions, the DBM said. Relief operations in Marawi City also came into play during the period.
Higher salaries and allowances granted for civilian and uniformed personnel reached P60 billion, adding to the expenses for the month.
For the first 10 months, cumulative budget releases reached P2.241 trillion, up by 10 percent from a year ago.
This leaves some P331.2 billion or just a tenth of the P3.35 trillion obligation budget available for release during the last two months.
“Line agencies have been expediting the requests for the release of their allotments, as well as obligating these funds since the 2017 appropriations are only valid until December 31 this year,” the DBM said.