Infrastructure spending speeds up in October
DISBURSEMENTS on national government infrastructure and other capital outlays accelerated in October, largely due to road works, health, and school facilities, the Department of Budget and Management (DBM) reported on Wednesday.
In the national government disbursement performance report, the DBM said that infrastructure spending and other capital outlays surged 83.4% to P94.4 billion in October from P51.5 billion in October 2017.
It also grew by 44.8% from P65.2 billion in September.
In a press briefing, Budget Secretary Benjamin E. Diokno attributed the state spending surge to rehabilitation, reconstruction and upgrading of damaged national roads, flood control and drainage improvement projects, construction of bypass or diversion roads, and road improvement or widening projects under the Department of Public Works and Highways (DPWH).
He also cited the procurements for health facilities by Department of Health, repair of school buildings, acquisition of equipment of various state universities and colleges under the Department of Education, as well as local infrastructure
projects in the Autonomous Region in Muslim Mindanao.
This brought January-October infrastructure spending and other capital outlays to P665.1 billion, up 50.3% from P442.7 billion in the same period last year.
This is equivalent to 23.78% of the overall P2.80-trillion public funds disbursed in the same 10 months.
“We are glad to report that government spending has continued its strong outturn in the month of October, driven by our huge investments on social services and ‘Build Build Build’ [infrastructure development program],” said Mr. Diokno.
“There is no underspending, as critics falsely claim, and this is validated by the numbers. We’ll have a strong finish in 2018,” he added.
“Looking ahead, the public sector will continue to buoy the Philippine economy. Faster and more targeted spending will translate to wider roads and better mass transport systems, more accessible education and health services, and overall better standards of living for our people.”
Moreover, Mr. Diokno said that the DBM has released 96.5%, or P3.633-trillion of the P3.767-trillion budget for 2017, which is P4 billion bigger than the allotment release report last week. —