End-February infra spending up 34%
The amount spent by the government on infrastructure jumped by over a third to P93.8 billion as of February, the latest Department of Budget and Management (DBM) data released Thursday showed.
Spending on infrastructure and other capital outlays in February alone reached P50.5 billion, up 43.9 percent from P35.1 billion during the same month last year.
Infrastructure spending that month exceeded by 16.8 percent January’s P43.3 billion.
In a report, the DBM partly attributed the climb in infrastructure spending in February to “completed road infrastructure projects of the Department of Public Works and Highways such as improvement and rehabilitation of dike systems, flood control and mitigation structures, and construction of roads, bridges and school buildings.”
“The higher infrastructure spending also stemmed from the acquisition of office building of the Bureau of Internal Revenue-Revenue Region 8, the construction of dry dock facility of the Department of National Defense-Philippine Navy, as well as the opening of letter of credit in connection with the Commission on Elections’ option to purchase vote counting machines for the 2019 national and local elections,” the DBM added.
From January to February, the amount spent on infrastructure and other capital outlays grew 34.6 percent from P69.7 billion a year ago.
Infrastructure “continued to be a major growth driver of government spending” during the first two months, accounting for a fifth of total public expenditures during the period, DBM said.
Infrastructure spending also comprised a fourth of the P95.3-billion increase in total disbursements at end-February, the DBM noted.
The national government’s total expenditures grew 25.5 percent year-on-year to P468.9 billion as of February.
Moving forward, “spending will remain upbeat owing to the implementation of various infrastructure projects and banner social programs, as well as from the settlement of billings and claims from prior year’s obligations,” the DBM said./lb
