Home Top News Gov’t cash utilization rate hits 94% at end-May

Gov’t cash utilization rate hits 94% at end-May

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GOVERNMENT agencies’ cash utilization rate hit 94% at the end of May, the Department of Budget and Management (DBM) said in a report. 

The DBM said that national agencies and local governments, as well as state-owned corporations, utilized P1.78 trillion out of P1.89 trillion worth of notices of cash allocation (NCAs) issued as of the end of May, leaving P115.55 billion unused.

The year-earlier utilization rate was 91%.

NCAs are a quarterly disbursement authority that the DBM issues to government offices, allowing them to withdraw funds from the Treasury bureau for the spending needs.

In May, utilization was P477.19 billion out of P494.15 billion, the DBM said.

The Commission on Human Rights posted the highest budget usage at 100%, followed by the Department of Foreign Affairs and the Commission on Audit (both 97%).

During last month’s Philippine Economic Briefing, Budget Secretary Amenah F. Pangandaman said early procurement and digitization of government transactions will help the government avoid underspending this year. — Beatriz Marie D. Cruz

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