Data from the Department of Budget and Management (DBM) showed that notices of cash allocation (NCAs) rose by 11 percent to P3.52 trillion as of end-September from P3.18 trillion in the same period last year.
Even with the increase, government agencies recorded a higher utilization rate of 99 percent from 97 percent in the nine-month period in 2023.
This means that of the total releases, only P51.6 billion was unused as of end-September.
NCAs are disbursement orders by the DBM to government banks servicing the release of funds to agencies. State agencies are expected to use the NCAs to pay for the cash requirements of their programs and projects.
This story is from the October 23, 2024 edition of The Philippine Star.
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This story is from the October 23, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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