Department of Public Works and Highways (DPWH) Secretary Vince Dizon on Tuesday, Oct. 28, vowed to scrap the complex formula for allocable and non-allocable funds and said budget allocations must reflect real community infrastructure needs, not political influence. The move follows the...
Government spending related to the May 12 midterm elections—frontloaded expenditures prior to the polls as well as the resumption of delayed projects due to the election ban—would likely spill over into the second quarter and support first-half economic growth, economists said. "While the...
The Department of Budget and Management (DBM) has instructed government agencies with low budget utilization rates to submit their catch-up plans. In a DBM circular letter dated June 28, the budget department ordered heads of departments, agencies, bureaus, and offices of the national government to...
The government’s expenses for infrastructure projects increased in April this year driven by flood control projects and foreign-assisted projects, the Department of Budget and Management (DBM) said. The national government's total infrastructure and other capital outlays amounted to P118.9...
The Marcos administration’s budget deficit shrank in March this year as revenue growth outpaced public spending, the Bureau of the Treasury reported. The fiscal deficit of the national government for the third month of the year was P195.9 billion, down from P210.3 billion in March 2023. Based on...
The Department of Budget and Management (DBM) is confident that the national government has achieved its infrastructure spending target for last year. In the latest national government disbursement performance report, the DBM stated that the overall infrastructure spending for January to December...
The Marcos administration was able to cut the budget deficit by more than half for the year due to strong revenues, data from the Bureau of the Treasury revealed. The fiscal gap of the national government amounted to P34.4 billion last month, showing a 65 percent decrease compared to P99.1 billion...
The National Economic and Development Authority (NEDA) said achieving the lower end of the government's growth target range is still achievable due to increased public spending and the upcoming holiday season. During a briefing in San Francisco, California, NEDA Secretary Arsenio M. Balisacan...
More government spending seen in the third quarter will help pick up the six percent to seven target economic growth by year-end, Department of Finance Secretary Benjamin E. Diokno said. During a forum with Reuters, Diokno pointed out several indicators that will help boost economic growth by...
In response to the call of the Marcos administration to accelerate government spending in the second quarter of the year, the Department of Public Works and Highways (DPWH) and the Department of Social Welfare and Development (DSWD) topped the spending of government agencies this third quarter....
The Development Budget Coordination Committee (DBCC) expects that the national government's budget deficit would widen in the latter part of the year, driven by catch-up spending. In the DBCC mid-year report, the inter-agency body responsible for determining the government's macroeconomic...
Public spending likely exceeded the government's third-quarter program by a tenth, driven by accelerated infrastructure expenditures, the Department of Budget and Management (DBM) said. In the National Government's August 2023 disbursement report, the DBM indicated that the Marcos...
