The government increased its releases of cash allocations, but spending usage of state agencies remained low as of the end of the third quarter.
Data from the Department of Budget and Management showed that notices of cash allocation inched up by two percent to P3.18 trillion as of end-September from the P3.11 trillion in the same period last year.
Almost 75 percent of NCA releases were secured by line departments at P2.33 trillion. The remaining P847.43 billion was directed to other agencies, especially state-run firms and local governments. By departments, the Department of Public Works and Highways and the Department of Education still obtained the highest NCAs worth P613.11 billion and P455.64 billion, respectively, during the nine-month period.Apart from DPWH, the Department of Interior and Local Government, the Judiciary, Civil Service Commission, Commission on Audit, Commission on Elections, Office of the Ombudsman, and the Commission on Human Rights also recorded a 100 percent utilization rate.
DICT only spent P3.55 billion out of its P8.94 billion NCAs released while DMW used up P4.38 billion out of P10.83 billion allocation. One can only shake one’s head in disbelief at the growing number of unforced errors on the part of the current administration. It shows lack of capability as well as a reluctance to hear the views of those...
Ayala-led Bank of the Philippine Islands has commenced its bond float to raise P5 billion aimed at diversifying its fund...