Thursday 18 July
Jun 27, 2018 @ 15:44

Roads, classrooms, hospital equipment pad May spending–DBM

 

The surge in spending went to three major sectors.

The Department of Budget and Management (DBM) reported a 12 percent increase in expenditures in May to reach P292 billion.

The growth is actually led by infrastructure, signalling that their Build, Build, Build mantra is serious.

Of the total spending, infrastructure accounteed for P58 billion to jump 26 percent year on year.

This came as the Department of Public Works and Highways completed various projects on road concreting, widening and improvement; construction of bypass or diversion roads and flood control structures; and the reconstruction, rehabilitation, and repair of roads and bridges, the DBM said.

School building repairs as well as the purchase of new medical equipment and hospital facilities also contributed to the spending surge.

?We continue to make strides in the fiscal sector of the economy, and this is confirmed by the spending data,? said Budget Secretary Benjamin Diokno.

?This should translate to better outcomes in the real economy, that is more jobs for our people, improved standards of living, and robust economic activity,? he added.

Please follow and like us:
error

Tags: , , , , , , , , , , , , , ,

Related Stories
Proposals for disaster prevention will be supported by the government.
Government spending soared in November as several projects have been completed for roads and sea
The capital needs 30 more EDSAs just to decongest traffic.
More state-funded projects were completed and paid for as of November.


 

Trending News

Copyright © 2019 Bilyonaryo - Latest news on the richest Filipinos and Family Business.