Gov't infrastructure spending soars to P1.02-T in 2023

The national government's expenditures for infrastructure and other capital outlays grew to P1.02 trillion from January to November 2023 from only P861.8 billion in the same period in 2022, the Department of Budget and Management said on Sunday.

The latest figure, based on the National Government disbursement report for November 2023, indicates an increase of P159.8 billion or 18.5 percent in infrastructure spending.

According to DBM, the infrastructure and other capital outlays increased as Department of Public Works and Highways covered the implementation of various priority projects.

DBM added that DPWH also covered the capital outlays, such as construction, rehabilitation, renovation, repair, and improvement of roads and bridges and flood control structures.

Meanwhile, DBM said that the Department of Transportation also contributed to the increase of infrastructure spending by implementing various rail transport foreign-assisted projects.

“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 promptly," Budget Secretary Amenah Pangandaman said.

"Under the guidance of President Bongbong Marcos, we will continue to provide the much-needed budget to support the Build, Better, More program. 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. Every peso in our national budget should be spent effectively to benefit our economy and, most importantly, the Filipino people," Pangandaman added.

P1.510 trillion allocated for infrastructure spending

Meanwhile, the approved FY 2024 budget includes P1.510 trillion for infrastructure spending, which will continue to be used for building through the Build, Better, More program. This is 180 million more than the 1.330 trillion pesos set aside in the 2023 GAA for infrastructure.

As the President's vision of a Bagong Pilipinas says, the Build, Better, More program tries to improve the country's infrastructure by building roads, rail, public transportation, and flood control projects. This will allow far-flung municipalities to grow.

This investment in infrastructure is equal to 5.5% of the country's expected GDP this year, which is well below the government's goal of 5.0 to 6.0 percent. This includes the P26.580 billion Public Sector Infrastructure budget for the Department of Transportation and the P981.999 billion budget for the Department of Public Works and Highways.