The national government has exceeded its expenditures in 2023 due to higher expansion in infrastructure and other capital outlays, the Department of Budget and Management (DBM) said on Wednesday.

DBM, citing the Cash Operations Report (COR) released by the Bureau of Treasury (BTr), said the government’s expenditures last year amounted to P5.336 trillion.

The Budget Department said the disbursements last year is 3.4 percent, or P176.6 billion higher than in 2022 and exceeded the full-year target by 2.1 percent or P107.8 billion.

Based on the report, the increase was primarily driven by the significant expansion in infrastructure and other capital outlays that reached P1.2 trillion, which is 18.7 percent larger year-on-year, and 16.2 percent faster than the program.

"The robust performance was likewise mainly credited to the accelerated program implementation and fund mobilization of the Department of Public Works and Highways and the Department of Transportation during the last two quarters," DBM said.

"This was also supported by the direct payments made by development partners for the implementation of foreign-assisted rail projects of the DOTr," DBM added.

Consequently, overall infrastructure disbursements were bolstered to P1.419 trillion, P140.5 billion (11.0 percent) higher year-on-year and P126.2 billion (9.8 percent) above the program.

Further, spending for current operating expenditures, such as PS and MOOE, improved on the back of catch-up spending of major social departments.

On the other hand, subsidy to government corporations was 18.4 percent (P36.9 billion) lower year-on-year and 23.8 percent (P51.0 billion) below the program, largely on account of the calibrated releases to the PhilHealth considering its favorable financial position and substantial cash holdings.