Home / Business / DBM releases P647-billion for Bayanihan laws

DBM releases P647-billion for Bayanihan laws

The Duterte administration has released more than half-a-trillion pesos to fund various government initiatives aimed at supporting the country’s coronavirus response, the Department of Budget and Management (DBM) said.

In a statement on Tuesday, (May 11), the budget department announced that a total of P646.97 billion was released as of April 15, 2021 for the implementation of various projects, activities and programs (P/A/Ps) in response to the COVID-19 pandemic.

Department of Budget and Management (DBM / FACEBOOK / MANILA BULLETIN)

DBM said these disbursement were all under the two Bayanihan laws.

About P387.17 billion was released pursuant to Republic Act (RA) No. 11469 or the Bayanihan to Heal as One Act (or Bayanihan I), DBM said.

“Implementing agencies reported that they have already obligated P358.24 billion and disbursed P339.65 billion, thus corresponding to a 92.53 percent obligation rate and 94.81 percent disbursement rate, respectively,” DBM said.

Moreover, releases under RA No. 11465 or the Bayanihan to Recover as One Act (Bayanihan II) amounted to P259.80 Billion, according to the DBM.

Of that amount, P132.65 billion has been obligated with only P93.31 billion disbursed based on agency reports submitted to the DBM, translating to a 51.06 percent obligation rate and 70.34 percent disbursement rate.

In addition to the releases made to support the Bayanihan laws, the DBM has also approved the continuing funding of projects under the 2020 national budget, or general appropriations act (GAA).

Upon the expiration of Bayanihan I, about P6.46 billion was charged against the 2020 GAA to fund

various COVID-19 P/A/Ps. Of that amount, P4.17 billion was obligated (64.56 percent) and P3.22 billion disbursed (77.28 percent) as of April 15, 2021.

“Agencies may still utilize fund releases sourced from the FY 2020 GAA until December 31, 2021 pursuant to RA No. 11520,” DBM said.

Meanwhile, the department said that fund releases charged against Section 10 of RA No. 11465 are still valid for obligation and disbursement until June 30, 2021 by virtue of RA No. 11519 which extended the availability of appropriations authorized under the Bayanihan II Law.

“Upon the expiration of the Bayanihan Laws, all unreleased appropriations shall lapse while undisbursed funds shall revert to the unappropriated surplus of the General Fund,” DBM said.

***
Credit belongs to : www.mb.com.ph

index.php

Corn farmers record P10-B revenue loss

Corn farmers recorded a staggering revenue loss of about P10 billion due low farm-gate prices, …