NATIONAL
Advocates Philippines
Surge In Government Infrastructure Spending Reaches P1.02 Trillion
Photo credit: DBM
The national government's expenditure on infrastructure and other capital outlays surged to P1.02 trillion from January to November 2023, marking a significant increase compared to P861.8 billion during the same period in 2022. According to the latest figures from the National Government (NG) disbursement report for November 2023, infrastructure spending witnessed a notable uptick of P159.8 billion or 18.5%.
In a statement, Department of Budget and Management (DBM) Secretary Mina F. Pangandaman emphasized the crucial role of government spending in national growth. "Government spending is vital to national growth. Thus, to help buttress robust economic growth, government agencies must continue to execute their programs and projects as authorized in the annual budget and deliver planned results in a timely manner."
The increase in infrastructure and capital outlays is closely linked to disbursements made by the Department of Public Works and Highways (DPWH) for various priority projects, including construction, rehabilitation, renovation, repair, and improvement of roads, bridges, and structures for flood control. The implementation of different rail transport foreign-assisted projects by the Department of Transportation (DOTr) also significantly contributed to the growth of infrastructure spending.
Meanwhile, to sustain infrastructure development through the Build, Better, More program, a total of P1.510 trillion has been allocated for infrastructure outlays in the enacted FY 2024 budget. This represents an increase of P180 million compared to the P1.330 trillion allocated for infrastructure in the 2023 General Appropriations Act (GAA).
"Under the guidance of President Bongbong Marcos, we will continue to provide the much-needed budget to support the Build, Better, More program," Secretary Mina added. "The DBM likewise commits to help ramp up infrastructure spending by urging all government agencies to disburse and utilize their infrastructure budget efficiently and promptly."
The Build, Better, More program aims to expand the country's infrastructure by developing road, rail, mass transport, and flood control projects to facilitate the progress of remote municipalities, in line with the President's vision for a New Philippines.
The allocation for this infrastructure amounts to 5.5% of the expected GDP of the country for this year, within the target range of 5.0 to 6.0 percent of the government. This includes the Public Sector Infrastructure budget of the Department of Transportation (DOTr) and DPWH, totaling P26.580 billion and P981.999 billion, respectively, as mentioned.
In a statement, Department of Budget and Management (DBM) Secretary Mina F. Pangandaman emphasized the crucial role of government spending in national growth. "Government spending is vital to national growth. Thus, to help buttress robust economic growth, government agencies must continue to execute their programs and projects as authorized in the annual budget and deliver planned results in a timely manner."
The increase in infrastructure and capital outlays is closely linked to disbursements made by the Department of Public Works and Highways (DPWH) for various priority projects, including construction, rehabilitation, renovation, repair, and improvement of roads, bridges, and structures for flood control. The implementation of different rail transport foreign-assisted projects by the Department of Transportation (DOTr) also significantly contributed to the growth of infrastructure spending.
Meanwhile, to sustain infrastructure development through the Build, Better, More program, a total of P1.510 trillion has been allocated for infrastructure outlays in the enacted FY 2024 budget. This represents an increase of P180 million compared to the P1.330 trillion allocated for infrastructure in the 2023 General Appropriations Act (GAA).
"Under the guidance of President Bongbong Marcos, we will continue to provide the much-needed budget to support the Build, Better, More program," Secretary Mina added. "The DBM likewise commits to help ramp up infrastructure spending by urging all government agencies to disburse and utilize their infrastructure budget efficiently and promptly."
The Build, Better, More program aims to expand the country's infrastructure by developing road, rail, mass transport, and flood control projects to facilitate the progress of remote municipalities, in line with the President's vision for a New Philippines.
The allocation for this infrastructure amounts to 5.5% of the expected GDP of the country for this year, within the target range of 5.0 to 6.0 percent of the government. This includes the Public Sector Infrastructure budget of the Department of Transportation (DOTr) and DPWH, totaling P26.580 billion and P981.999 billion, respectively, as mentioned.
Feb 19, 2024
