Infrastructure spending grew by 49 percent in November on the back of higher disbursements for road projects, school buildings, state universities and colleges (SUCs) and health facilities, the Department of Budget and Management (DBM) reported over the weekend.
The growth in infrastructure and other capital expenditures surged by 49.3 percent to P30.4 billion in November from P20.4 billion a year earlier.
It was the result of sustained implementation of road infrastructure projects of the Department of Public Works and Highways (DPWH), the DBM noted.
“The same was also raised by the payments made for completed repair and rehabilitation of classrooms and education facilities in DepEd [Department of Education] schools, local infrastructure projects in the ARMM [Autonomous Region in Muslim Mindanao], and other capital outlay projects in some SUCs and DOH [Department of Health] hospitals nationwide,” according to the report.
The fiscal spending in November lifted the 11-month infrastructure and other capital spending by 46.3 percent to P426 billion from P291 billion, the DBM said
The government targets P631.9 billion in infrastructure spending for 2016. This year, it plans to spend more than P890 billion on projects that will be undertaken simultaneously in all regions, including small-, medium- and large-scale ventures.
The planned spending on purely infrastructure represents 5.2 percent of P3.35-trillion national budget for 2017, up 41 percent from last year’s target.
On separate occasions, the government’s economic team mentioned a spending target of P8 trillion to P9 trillion on infrastructure from 2017 to 2022.