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Government ramps up infrastructure spending, hits P137 billion in September

Business

Government ramps up infrastructure spending, hits P137 billion in September

The government's infrastructure spending surged 16.9 percent to P137.1 billion in September of this year, from P117.3 billion a year ago, according to the Department of Budget and Management (DBM).

This increase was driven by robust investments in public works, transportation, and national defense projects, the DBM said in a report.

Key drivers included road and bridge projects by the Department of Public Works and Highways (DPWH), foreign-assisted projects by the Department of Transportation (DOTr), and modernization projects by the Department of National Defense (DND).

For the first nine months of 2024, infrastructure and other capital outlays reached P982.4 billion, a 14.6 percent increase compared to P857.6 billion in the same period last year. Major contributors to this growth included the DPWH's ongoing and carry-over projects, along with direct payments for the DOTr's foreign-assisted rail projects.

The DBM reported that total government disbursements for the first three quarters exceeded the programmed budget by P46.0 billion, or 1.1 percent.

The government’s infrastructure program for this year is set at P1.472 trillion, equivalent to 5.6 percent of the country’s economy, as measured by the gross domestic product.

Related Tags

Department of Budget Management Procurement Service infrastructure spending

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