• May infra spending up 35.6% to P104.6B

    0

    Government spending for infrastructure as of May surged to P104.6 billion, or an increment of 35.6 percent year-on-year, the Department of Budget and Management (DBM) reported on Tuesday.

    The DBM noted that May infrastructure spending was higher compared to the P77.1 billion recorded in the same period in 2012.

    Budget Secretary Florencio Abad cited the government’s program budgeting initiative as the main catalyst for consistent improvements in the country’s expenditure levels.

    “This brings total disbursements to P751.2 billion as of May, 12.4 percent higher than year-on-year levels tracked in 2012,” he added.

    Expenditures for the period also exceeded the 8.1-percent growth average for January to May disbursements observed since 2005.

    Share.