Gov’t infra spending overshoots expectations as of end-Sept
The infrastructure splurge is real at nearly P400 billion.
The government has spent P391.2 billion on infrastructure and other capital outlays from January-September, which is well beyond the P374.4 billion programmed for the first nine months, the Department of Budget and Management (DBM) said in a statement.
This means that spending actually zoomed past the target by 4.5%, placing it on track to hit the full-year expenditure goals.
In particular, infrastructure spending hit P142.1 billion during the third quarter, spelling a 15.4% jump from last year.
“Disbursements are expected to pick up in the fourth quarter anticipating further increases in infrastructure and other capital outlays; maintenance expenditures from operating expenses of the DepEd and the DSWD; and personnel services, in view of the release of the year-end bonus and cash gift, pension and retirement benefits, as well as Performance-Based Bonus for some agencies whose validation are currently ongoing,” the DBM said.