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MANILA - The Department of Budget and Management plans to realign the government's first-half savings for use in its disaster response and rehabilitation efforts.
Budget Secretary Florencio Abad on Thursday said the government has enjoyed ample savings, which can readily be used for other purposes, such as boosting the post-disaster rehabilitation efforts.
The government has incurred P90 billion in savings in the first six months of the year.
This money represents unspent funds of various departments and agencies as a result of efforts to bring down project costs.
The savings include the following:
- P3 billion from the Department of Public Works and Highways, - P5.2 billion from the Commission on Elections as funds for new PCOS machines were not fully utilized, and
- P5.8 billion saved because of lower interest payments for domestic borrowings.
The government likewise booked savings from lower personnel costs.
Abad said the P90 billion also includes money for delayed projects that can nevertheless be deployed for other ventures.
"If urgently needed, certain projects can be deferred to fund rehabilitation, flood control, solid waste management, and resettlement programs," he added.
In the first half of the year, the government spent only P795.403 billion, as against its target of P885.288 billion for the period.
On Tuesday, Abad said the government has P5.95 billion remaining from its calamity fund.
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