Gov’t budget utilization slips to 89% in May

MANILA, Philippines – The spending efficiency of government agencies slowed in May as key departments underspent their allocations, latest data from the Department of Budget and Management (DBM) showed. According to the DBM’s report on the status of Notices of Cash Allocation (NCAs), the government’s budget utilization rate slipped to 89 percent as of end-May. Agencies utilized P2.11 trillion out of the P2.37 trillion in cash allocations released, leaving about P260.8 billion unused. READ: Fuel crisis: Cutting non-essential gov’t spending may save P25.6B – DBM This was lower than the 94-percent utilization rate recorded in the same period last year. NCAs […]... Keep on reading: Gov’t budget utilization slips to 89% in May