THE Department of Budget and Management (DBM) said the national government’s infrastructure spending and other capital outlays rose to P1.02 trillion from January to November last year.
This means infrastructure spending grew by P159.8 billion or about 18.5 percent, according to the November 2023 National Government disbursement report.
“Government spending is vital to national growth. Thus, to help buttress robust economic growth, government agencies must continue to execute their programs and projects as authorized in the annual budget and deliver planned results in a timely manner,” DBM Secretary Mina Pangandaman said.
She said the increase in infrastructure and other capital outlays was largely attributed to the disbursements made by the Department of Public Works and Highways (DPWH) to cover the implementation of various priority projects; and capital outlays, such as construction, rehabilitation, renovation, repair, and improvement of roads and bridges, as well as flood control structures. The implementation of various rail transport foreign-assisted projects of the Department of Transportation (DOTr) also contributed significantly to the growth of infrastructure spending.
P1.510 trillion allocated to Build, Better, More in 2024
Meanwhile, total infrastructure outlays have been allocated with P1.510 trillion in the enacted FY 2024 budge to be able to continue infrastructure development through the Build, Better, More program, about P180 million higher than the P1.330 trillion amount allotted for infrastructure in the 2023 GAA.
“Under the guidance of President Bongbong Marcos, we will continue to provide the much-needed budget to support the Build, Better, More program. The DBM likewise commits to help ramp up infrastructure spending by urging all government agencies to disburse and utilize their infrastructure budget efficiently and promptly. Every peso in our national budget should be spent effectively for the benefit of our economy and, most importantly, the Filipino people,” Pangandaman added.
The Build, Better, More program aims to expand the country’s infrastructure by developing road, rail, mass transport, and flood control infrastructure projects to allow for growth in far-flung municipalities, as espoused by the President’s vision of a Bagong Pilipinas.
This infrastructure allocation is equivalent to 5.5 percent of the country’s projected GDP for this year, well within the 5.0 to 6.0 percent target of the government. This includes the Public Sector Infrastructure budget of the DOTr and DPWH amounting to P26.580 billion and P981.999 billion, respectively.