Govt infra Jan-May spending up 35.6%
MANILA, Philippines - Government spending on infrastructure and other capital outlays increased 35.6% in the first 5 months of 2013, supporting the goals of job creation and sustained economic growth.
This is slower than the 45% spending hike in January-to-April period, when capital outlays reached P75.2 billion.
In a statement, the Department of Budget and Management (DBM) cited the government's "strategic expenditure approach" for the spending total's increase to P104.6 billion from P77.1 billion a year ago.
"The implementation of program budgeting helped bring a more deliberate and strategic approach to spending, so that expenditures are closely aligned with President Aquino's campaign for long-term, inclusive growth," Budget Secretary Florencio Abad said.
"Key to that is ensuring swift disbursements to high-impact sectors — such as public infrastructure and capital outlay — and other crucial industries that will deliver immediate benefits to Filipinos and allow us to sustain the country's strong economic momentum," Abad added.
Total disbursements grew 12.4% to P751.2 billion in the first 5 months of 2013 from P668.4 billion a year ago.
Maintenance and Other Operating Expenditures (MOOE) also contributed to the overall spending growth, increasing 25.1% to P120.2 billion from P120.2 billion.
MOOE were mainly focused on the government's flagship social protection and tourism programs, DBM said in the statement.
Abad said the country's solid spending performance will serve as a solid base for the country's sustained economic growth along with the government's efforts to accelerate budget disbursements.
"We are working actively... to eliminate expenditure bottlenecks that might prevent our agencies from making the most of their fund releases," he said. - Rappler.com