PH infra spending up 12.2% yoy in June

MANILA-- The Duterte administration's bid to further increase infrastructure investments continues to show force with the June 2017 spending up 12.2 percent year-on-year.

Data from the Department of Budget and Management (DBM) website showed that infrastructure/other capital outlays reached PHP51.9 billion last month, higher than year-ago's PHP46.6 billion in May.

Infrastructure and other capital outlays accounted for the bulk of capital outlays last June that totalled to PHP77 billion, up 26.5 percent against the PHP51.7 billion in June 2016.

The other components of capital outlays are equity, which amounted to PHP3.2 billion last June, and capital transfers to local government units (LGUs),PHP22 billion.

Both are higher than the PHP1 million spent for equity and PHP10.5 billion for capital transfers to LGUs in June 2016.

President Rodrigo Duterte, in his second State of the Nation Address (SONA) last July 24, stressed his administration's focus to increase investment on needed infrastructure, which was set between PHP8 to PHP9 trillion until the end of his term in 2022.

Source: Philippine News Agency