Infra, capital spending up markedly in July – Diokno
Infrastructure and other capital spending climbed by double digits in July on the back of the government’s “Build Build Build” program, Budget Secretary Benjamin Diokno said on Wednesday.
“Infrastructure and capital outlays owing to [the]‘Build Build Build’ program continue to boost government spending as it reached P84.5 billion, surging P36.1 billion or 75 percent compared to July 2017,” he told reporters in a press briefing.
In a separate statement, the Department of Budget and Management also said that project implementation by the Department of Public Works and Highways had continued to drive infrastructure disbursements.
“In particular, these include nationwide road construction, improvement and widening projects; the Pasig-Marikina River Channel Improvement Project; and flood control, drainage, and dike improvement and rehabilitation projects,” it added.
Frigate and engineering equipment acquisitions under the Armed Forces of the Philippines Modernization Program and the procurement of machinery, aircraft and aircraft equipment by the Department of Transportation-Philippine Coast Guard also contributed.
Expenditures subsequently grew by 47 percent to P437.2 billion for the first seven months of the year, it added, raising total government spending for the period to P1.931 trillion, up 22.6 percent.
“Government spending is intact and this means that our people will enjoy the benefits of government projects sooner,” Diokno said.
“We maintain our projection that underspending will be eliminated under our watch,” he added.
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