Sept. infra spending up

The government’s commitment to boost spending, particularly in infrastructure, has bore fruit based on September data from the Department of Budget and Management (DBM).

“Infrastructure and other capital outlays reached P100.3 billion this September, corresponding to a growth rate of 53.9 percent from last year’s level of P65.2 billion,” the DBM said.

“This growth, also the fastest this year for the category, is attributed to the full and partial completion of projects of the Department of Public Works and Highways (DPWH),” it added.

According to the agency, the projects include the construction, upgrading, repair and rehabilitation of roads, bridges and flood control structures. The purchase of new military equipment under the revised Armed Forces of the Philippines Modernization Program of the Department of National Defense and the construction of the new Supreme Court building of the Judiciary also contributed to the growth.

On a cumulative basis however, infrastructure and capital outlays reflect a 4.3 percent decline from P570.8 billion a year ago when this stood at P546.3 billion.

Likewise, government disbursement in the first nine months this year fell short by 8.1 percent or P48.3 billion of the programmed P594.5 billion for the period.

Finance Secretary Carlos Dominguez III previously said the pickup in government spending demonstrates the government’s commitment to help expand the economy.

“Well so far the weather has been okay. So, it’s picking up. But as I said we’re not driving a Ferrari. If we step on the gas, it’s not zero to 60 in three seconds. It will take some time,” Dominguez said.