Government agencies posted a budget utilization rate of 96.9% at the end of June, running behind the year-earlier pace of 99%, according to a report by BusinessWorld.
The Department of Budget and Management (DBM) said in its Notice of Cash Allocations (NCAs) Utilization Report that the National Government, local governments, and government-owned corporations had used P2.65 trillion of their allotted funds by the end of June.
The DBM attributed the lower utilization rate to slower disbursements by some agencies, though spending is expected to pick up in the second half of the year as infrastructure projects and other priority programs accelerate.