PH successful in ending underspending
CLARK FREEPORT — The Department of Budget and Management (DBM) reported that the Philippines has finally put an end to underspending in terms of budget utilization.
“In 2014, underspending was as high as 13.3 percent and 12.8 percent in 2015. So in those two years alone, some Php631 billion worth of projects were left unspent. However, when we started to assume office in mid-2016, we were able to lower it to 3.6 percent and 2.7 percent by the end of 2017,” DBM Secretary Benjamin Diokno told Central Luzon stakeholders during the Sulong Pilipinas 2018 Philippine Development Forum in Clark.
He added that based on preliminary data for the first nine months of 2018, this may be the first time actual government expenditures at Php2.49 trillion exceeded program expenditures at Php2.43 trillion.
“For the first nine months of this year, total government spending amounted to Php2.5 trillion. This is Php475 billion higher than total spending for the same period last year or an increase of 23.6%,” Diokno di scl osed.
He added that the comparison of infrastructure and other capital spending is even more i mpr essi ve.
high-performance gym that will offer the latest scientific training equipment and methodology,” he added.
After SEA Games, the sports hub will become a training center not just for the Filipino athletes but also athletes from around the world.
“To our National athletes and to those who aspire to represent our country, believe in yourselves because we believe in you,” Ramirez said. “Together we can make great things happen. We will continue to develop the athletes of tomorrow and the future of global sports and the Philippines will be at the center of it.”
The 30th SEA Games will be held from November 30-December 11, 2019. A total of 9,840 athletes from 11 countries will compete in 529 events of 56 sports.
There are 47 venues in 3 competition hubs namely Clark, Subic and Metro Manila.
It carries the theme “We Win as One” which encapsulates unity, togetherness, and singularity of purpose and the desire to work together in a diverse community to achieve peace, progress and inclusivity.
(CLJD/ CJVF-PIA 3)