Infrastructure spending flat in first 4 months of 2022
CNN Philippines | June 21, 2022 2:12PM
Metro Manila (CNN Philippines, June 21) — The government’s infrastructure spending rose by a meager 0.3% from January to April, latest Department of Budget and Management data showed.
DBM figures released earlier this week showed infrastructure and capital outlays totaled ₱63.8 billion in April alone, up 9.7% year-on-year. The implementation of infrastructure programs under the Department of Public Works and Highways played a role according to the agency, with most areas already under the laxest Alert Level 1 then.
However, this pushed total infrastructure disbursements during the four-month stretch to only ₱254.1 billion, barely up from ₱253.4 billion the same period last year.
The state’s overall disbursements amounted to ₱1.44 trillion, higher by 6.6% annually.
The DBM said in its March and April reports that spending could slow down until May with the 45-day election spending ban in place then along with the timing of subsidy releases.
Still, it expects positive growths for personnel services expenditures with the releases of government employees’ mid-year bonus, higher national tax allotment for local governments, and maintenance and other operating expenses (MOOE) of the Commission on Elections for the conduct of the recent polls.
Source: CNN Philippines