Wednesday, 11 January 2012 12:17
The Aquino government has increased by P13.4 billion the P72.11-billion Disbursement Acceleration Plan (DAP) to fund more programs and further boost growth this year.
Budget and Management Secretary Florencio Abad said President Benigno S. Aquino III has directed the use of savings from last year’s General Appropriations Act (GAA). The savings came from completed or discontinued projects under certain departments or agencies.
He said the additional fund “is targeted to provide new activities which have not been anticipated during the preparation of the budget, as well as to augment additional requirements for on-going priority projects.”
“It will also provide for deficiencies under the Special Purpose Fund, including the Calamity Fund and Contingent Fund, and augment the much-reduced internal revenue allocations for local government units,” he said.
As of December 29, 2011, allotment releases for the P13.4-billion additional funding reached P11 billion and P7.6 billion or 68 percent of which refers to actual disbursements.
Relatively, Abad said cash releases of the original DAP totalled to P58 billion as of end-December 2011 while actual disbursement reached P53.8 billion.
He said 96 percent or P69.3 billion of the original accelerated spending budget has been released to agencies and government-owned or -controlled corporations (GOCCs) as of last December.
“The DAP contributed immensely to the government’s increased spending in the last months of the year, allowing agencies to quickly implement programs and projects aligned with the Aquino Social Contract to the Filipino People,” he added.
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