Budget Secretary Amenah Pangandaman has ordered agencies to submit their respective catch-up spending plans amid the underspending seen in the first half of the year.
In a statement, the Department of Budget and Management said Pangandaman issued Circular Letter No. 2023-10, calling for submission of catch-up plans “to facilitate budget execution for the rest of Fiscal Year 2023.”
“Consistent with the objectives of the Medium-Term Fiscal Framework, the National Government shall mobilize and utilize public resources in order to gain the maximum benefits and high multiplier effects for the economy,” said Pangandaman in the circular letter. The NEDA chief added that government agencies, including local and regional government entities, are encouraged, if not instructed, to formulate catch-up plans, accelerate, and even frontload the implementation of said programs and projects.
The circular letter also seeks to ascertain the underlying causes or reasons for underperformance and undertake measures to address them, according to the DBM.
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