MANILA -  The Philippines has shut down five of the ten diplomatic missions due for closure this year, a senior official said Tuesday.

According to Rafael Seguis, undersecretary for foreign affairs, the Philippine government recently terminated the operation of its embassies in Caracas, Venezuela; Koror, Palau; Dublin, Ireland and consulates general in Barcelona, Spain and Frankfurt, Germany.

The Philippine embassies in Stockholm, Sweden; Bucharest, Romania; Havana, Cuba; and Helsinki, Finland and consulate in Saipan in Northern Mariana Islands began scaling down its operations in preparation for closure on October 31.

Seguis said closing down the 10 diplomatic missions is part of the department's restructuring plan and austerity measures.

The closure can result in savings estimated at 100 million pesos ($2.38 million), which can be allocated to other cash-strapped posts that serve a greater number of Filipinos.

"We are re-aligning our budget where they are most needed like in the Middle East," Seguis told reporters. "We need to maximize our resources and budget."

The nearest Philippine embassy or consulate will assume jurisdiction and functions of the closed diplomatic missions.

Prior to the closure, the Philippines had 94 diplomatic posts abroad, including 67 embassies, 23 consulates, and four missions to international organizations.

The selection of posts to be closed down was made based on the post's performance and economic and political importance.

The Philippines has already informed host governments of the terminated posts as well as its respective diplomatic missions here in Manila. The Filipino communities, under the jurisdiction of the said embassies and consulates, have also been informed.

Filipino diplomatic personnel displaced by the shutdown were absorbed by existing embassies and consulates mainly in the Middle East, Seguis said, while others, whose tours of duty have expired, were automatically recalled to Manila.