President Benigno Aquino 3rd has ordered members of his Cabinet to step up public spending to boost development and attain growth targets for the year.
During a meeting in Malacanang on Tuesday, Aquino directed Cabinet officials to “accelerate the pace of government spending,” mainly on social services and poverty allevation programs, to match last year’s 6.3-percent economic growth, according to Presidential Communications Secretary Herminio Coloma.
“The President directed the Cabinet to exert maximum efforts to continually meet the people’s expectations on delivery of responsive public service,” Coloma said in a statement.
“He instructed them to accelerate the pace of government spending, noting the continuing expansion of fiscal space due to good governance and the sound management of macroeconomic fundamentals that has earned the country investment-grade ratings and sustained high confidence levels in the growth prospects of the Philippine economy,” he added.
The country’s economy grew 5.2 percent in the first three months of the year, below government expectations. The sluggish growth was attributed to weak government spending.
Coloma said Cabinet secretaries presented to the President their respective programs to meet the government’s economic growth targets.