Gov’t infra spending surges 74.6% in July

Public spending on infrastructure and other capital surged to P84.5 billion in July with the completion of the government’s road and flood control projects, and the acquisition of military equipment, the Department of Budget and Management (DBM) reported yesterday.

According to latest data from the DBM, infrastructure and other capital outlays jumped 74.6 percent to P84.5 billion in July from the P48.4 billion recorded in the same month last year.

This brought the government’s infrastructure expenditures to reach P437.2 billion from January to July, 47 percent higher than the P297.5 billion recorded in the same sevenmonth period in 2017.

During a press briefing, Budget Secretary Benjamin Diokno said the DBM was so far satisfied with the pace by which the government disburses its funds for infrastructure.

“The best way is to look at the year-to-date. That’s imFollowing pressive considering last year was already high,” the budget chief said.

Diokno attributed the growth in infrastructure spending mainly to the implementatio of the Build Build Build program and the purchase of military equipment.

“The drivers are infrastructure, and part of it is also acquisition of military hardware. So that explains the increase, but it’s mostly Build Build Build,” Diokno said.

In particular, the DBM said infrastructure and capital expenditures were boosted by the Department of Public Works and Highways’ implementation of road construction, improvement and widening projects; flood control, drainage and dike improvement projects; and the Pasig-Marikina river channel improvement project.

Also contributing to the growth were capital acquisitions for the Armed Forces of the Philippines Modernization program, and the procurement of machinery, aircraft and aircraft equipment by the Philippine Coast Guard.