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Manila Bulletin devider Business devider DBM: Infrastructure spending up 20% at end-June

DBM: Infrastructure spending up 20% at end-June

Published Aug 21, 2024 06:45 am

The government increased its spending for infrastructure projects by 20.6 percent in the first six months of the year driven by road programs, data from the Department of Budget and Management (DBM) showed.

According to the latest data from DBM, infrastructure expenditures reached P611.8 billion from January to June, surpassing the P507.2 billion recorded in the same period last year. It is also higher by 12 percent compared to the target of P545.3 billion.

In the January to June period, total infrastructure disbursements, which covers transfers to local government units (LGUs) and subsidies and equity for state-owned firms, rose by 18.4 to P720.5 billion from P608.6 billion in the same period a year ago.

Meanwhile, overall government spending for the first half was 14.6 percent higher at P2.76 trillion from P2.41 trillion a year ago.

In June alone, the total infrastructure and other capital outlays amounted to P139.7 billion during the month, up by 20.3 billion or 17 percent from last year’s P119.4 billion.

The DBM noted that strong infrastructure spending was attributed to the infrastructure projects of the Department of Public Works and Highways (DPWH) for road, bridge and multi-purpose building projects, and prior years' right-of-way claims.

The DBM also cited the locally-funded projects under the PAyapa at MAsaganang PamayaNAn (PAMANA) such as road networks and road networks, as well as the repair and rehabilitation of justice halls nationwide.

The infrastructure spending program in the 2024 budget has been raised to P1.510 trillion from P1.330 trillion in the 2023 national budget.

Under President Marcos’ term, the government is targeting an infrastructure spending-to-GDP ratio of 5.0 percent to 6.0 percent annually between 2024 and 2028.

On the other hand, the DBM also reported that personnel services expenditures and the combined allotment and capital transfers rose to P701.9 billion and 380.4 billion during the first half of 2024, respectively.

The government also recorded higher maintenance and other operating expenses (MOOE) to P479.2 billion due to assistance and subsidies for social services.

As of end-June, the remaining program balance amounted to P472.3 billion or 8.2 percent of the record P5.768 trillion budget for the year.

The DBM said disbursements are expected to gradually increase in the second half with the Department of Public Works and Highways boosting construction activities in the remaining months, along with the release of salary adjustments.

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infrastructure spending Department of Budget and Management (DBM)
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