Government funding rises 20% Y-o-Y

The Department of Budget and Management said that government spending for the first half of the year reached P1.604 trillion which translates to a 20.5 percent rise year-on-year.

Budget Secretary Benjamin Diokno attributed the massive expenditure to increased spending on infrastructures and personnel services.

“The performance of government spending is unprecedented because we are ahead of the program for the first time in history,” he added.

Although there is an increase on disbursements, government expenditures remain under its programmed target. He added the increase in revenue collections as a result of the ongoing tax reforms continue to provide fiscal space for the government.

Revenue collections for the first semester reached P1.411 trillion, exceeding the P1.305 trillion target by P105.7 billion or 8.1 percent.

Meanwhile, around 264,000 authorized positions are yet to be filled as of last month. Taking up a large chunk of the vacuum are teaching-related positions followed by general civil servants, military and uniformed personnel and allied medical jobs.