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The phrase "are allocating only" is correct and usable in written English.
It can be used when specifying that a limited amount of resources or time is being designated for a particular purpose.
Example: "In this project, we are allocating only the necessary funds to ensure its success."
Alternatives: "are designating solely" or "are assigning exclusively".
Exact(1)
In order to meet their 529 savings goals, they have decided to be as frugal as possible about their Lifestyle Choices, which is why they are allocating only 25percentt of their income to those.
Similar(59)
In [6], a dynamic, distributed resource allocation algorithm is presented, where users are allocated only on high-gain subchannels.
The delegate tallies don't necessarily line up with actual vote counts, either; the delegates are allocated only after candidates get 15percentt of the vote.
Using real data we simulate a matrix sampling approach: respondents are allocated only items part of one of three components, thus yielding three data sets and lessening respondent burden.
This case corresponds to current frequency allocations, according to which each band is allocated only to a primary system.
The resulting power allocation is opportunistic in that power is allocated only when channel realizations are above average.
Nevada, for instance, was allocated only 2% of total of the water distribution.
Since the 1970s, monetary policy has had no view on where credit should be allocated, only how much.
Fairfax County, with a population of 285,194, is allocated only three House seats under the 1962 apportionment provisions, however, thus being given only.42 of its ideal representation.
The City of Norfolk, with 305,872 people, is given only six House seats, and Arlington County, with a population of 163,401, is allocated only three.
Team GB had originally been allocated only one place but moved up the queue after a number of countries withdrew injured riders.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com