MANILA, Philippines - While incessant rains continue to swamp large portions of Metro Manila and surrounding areas, the Department of Budget and Management assured the public Tuesday, August 7 that it still has ready funds for use in disaster response and rehabilitation efforts.
Budget Secretary Florencio Abad said in a statement that the DBM still has in its coffers P5.95 billion in calamity funds.
In addition, the department had already released P2.99 billion in quick response funds to responsible departments early this year. The table shows funds broken down by recipient departments.
Abad said the funds are "readily available" to enable national government agencies to immediately respond to the needs of localities and citizens affected by calamities,” he said.
Should the funds not be enough, Abad said the government is ready to augment the QRF and the Calamity Fund. "We have enough savings that can be realigned to support disaster response and rehabilitation activities,” he said.
The 2012 Budget provides for P7.5 billion Calamity Fund, and a balance of P291.775 million has been carried-over from the previous year.
Unlike in the previous fiscal years where the QRFs have been tucked into the Calamity Fund, the 2012 Budget allocates QRFs separately under the budgets of departments.
A total of P10.489 billion has been appropriated for the Calamity Fund and QRFs, compared to the P5-billion Calamity Fund under the 2011 Budget. - Rappler.com