Negosyante News

July 8, 2024 10:11 pm

Marcos Admin Can Use Remaining ₱14.7 Billion From Duterte Calamity Fund

IMG SOURCE: Erwin Mascarinas / Business Mirror

 

In the latest data from the Department of Budget and Management (DBM), it showed that the previous Duterte administration only released ₱5.9 billion out of the ₱20.7 billion budget for the calamity fund or the national disaster risk reduction management fund (NDRRMF) for 2022.

 

With this, the Marcos administration can use the remaining ₱14.7 billion left in the calamity fund for response and relief operations for the remainder of the year.

 

Aside from the ₱20.7 billion calamity fund part of the ₱5.02 trillion national budget for 2022, the ₱4.5 trillion for the 2021 appropriations with its validity extended to 2022 still contains ₱699.6 billion for calamity funds.

For the NDRRMF for 2021, the ₱364 million for the national disaster risk reduction and management program (NDRRMP). For the NDRRMP, around ₱6.7 million was released in the first half of 2022, so a remaining balance of ₱357.3 million is still available for use.

 

The MDRRMP can also be a source of funding to implement the quick response fund (QRF) of agencies when balances have gone past 50%.

 

The DBM calls the QRF a “standby fund to be used in order that the situation and living conditions of people in communities or areas stricken by calamities, epidemics, crises, and catastrophes may be normalized as quickly as possible.”

 

Meanwhile, the Marawi recovery, rehabilitation, and reconstruction program (MRRRP) has only released ₱335.6 million and has ₱95.681 million in unreleased funds.

 

In past years, funding noted to be in the millions was supposed to be used for the rehabilitation of areas affected by the 2017 siege of Marawi City but ended up expiring.

 

Source: Inquirer

Comments are closed for this article!

Subscribe to Our Newsletter and get a free pdf:

Sign Up for negosyante news

and receive a copy of The Crypto Cheat Sheet (PDF)
and NFT Cheat Sheet for free!

* indicates required