INFRASTRUCTURE spending expanded in double-digit terms last March, driven by disbursements in road projects, the Department of Budget and Management (DBM) reported over the weekend.
Infrastructure and other capital expenditures rose by 18.2 percent to P47.8 billion in March from P40.5 billion a year earlier, and by 36.1 percent in February.
In the first three months of the year, the DBM said infrastructure and other capital spending grew by 12.2 percent to P175.5 billion from P104.8 billion a year earlier.
“This is mostly on account of the implementation of road infrastructure projects of the DPWH [Department of Public Works and Highways] and other capital outlay projects of the DOH [Department of Health] and DND-AFP [Department of Finance-Armed Forces of the Philippines], as well as the contribution to the Asian Infrastructure Investment Bank,” the DBM said.
The Philippines released P1.9 billion as capital contribution to the Asian Infrastructure Investment Bank in January to March.
The government targets to spend P847 billion on infrastructure development this year, covering projects in all regions, including small-, medium- and large-scale ventures.
In the six years to 2022, the government intends to spend P8.4 trillion on infrastructure.