Infra spending rises 58% to P251-B in 2012
MANILA, Philippines - Government infrastructure and capital spending rose by 57.7% in 2012 to P250.8 billion from P159.1 billion in 2011, Budget Secretary Florencio Abad said.
Abad said this set the momentum for higher public spending in 2013.
"Last year's spending levels will bouy our growth strategy this year as we look forward to pouring investments into infrastructure and capital outlay in 2013," he said.
"The development of roads and bridges, irrigation facilities as well as the tourism sector, will "help generate jobs and create thriving markets for local industries," he added.
Expenditures for Maintenance and Other Operating Expenditures (MOOE) went up 28% to P256.7 billion in 2012 from P201.2 billion in 2011.
Abad attributed this to agencies' successful implementation of priority programs, including the Pantawid Pamilyang Pilipino Program.
Last February, National Economic and Development Authority (NEDA) deputy director general Rolando Tungpalan said the government was keen on increasing infrastructure spending to P698 billion by 2016.
This target figure will account for 5% of gross domestic product (GDP) in 2016, up from 2.6% in 2012. - Rappler.com