The Department of Budget and Management (DBM) has released P660.5 billion to various agencies and departments as of end-May, to support the implementation of their respective coronavirus disease 2019 (COVID-19) pandemic response program, said Wendel Avisado, DBM secretary.
Of the amount, 82.2 percent or P542.64 billion is already obligated while P486.71 billion or 89.8 percent was disbursed by the agencies, Avisado said during the Economic Journalists Association of the Philippines mid-year economic forum yesterday.
As of May 31, out of the P387.17 billion allotments released for COVID-19 interventions under Bayanihan 1, about P360.42 billion or 93.9 percent has already been obligated, and P342.4 billion or 95 percent has been disbursed, he added.
Meanwhile, P200.12 billion has been released for Bayanihan 2, of which obligations amounted to P172.28 billion or 86.9 percent, and disbursements recorded at P135.81 billion or 78.83 percent.
The remaining P73.21 billion was accounted for by regular funds released outside Bayanihan laws.
According to Avisado, of the P4.506 trillion budget for 2021, about P961.2 billion worth of government programs, activities and projects are directly and indirectly responsive to the COVID-19 pandemic.
“This is distributed across different government agencies to support major response programs, including the Department of Health’s medical assistance to indigent patients, Department of Agriculture’s Plant, Plant, Plant program, Department of Labor and Employment’s livelihood and emergency employment program, and the procurement of the COVID-19 vaccine,” Avisado said.
“The infrastructure projects of Departments of Public Works and Highways and Transportation are also considered as contributory to addressing the pandemic, and these are expected to establish a more solid foundation for the country’s economic recovery, due to their multiplier effect on employment and development of community based micro and small enterprises,” he added.
Avisado said government efforts to effectively address the impact of the health crisis will continue with the preparation of the 2022 national expenditure program.
“Consistent with the macroeconomic assumptions and foregoing fiscal targets, the fiscal year 2022 cash budget is estimated to be P5.024 trillion, equivalent to 22.8 percent of the projected nominal gross domestic for the year. The proposed budget for 2022 marks an 11.5 percent increase from the P4.506 trillion budget for 2021,” he added. – Angela Celis
