Sunday 25 February
Powered by Ajaxy
Oct 22, 2017 @ 18:08

Change has come? Gov’t spending up by 10% as of August

 

This government is all about spend, spend, spend.

Budget Secretary Benjamin Diokno said state disbursements are going no way but up under his watch as he delivers his promise of faster releases for government projects.

Latest economic data showed that total public spending is up by 9.8% to P1.78 trillion from January to August compared to the same period in 2016.

“The growth of government spending is expected to boost the government’s socio-economic agenda and promote the swift delivery of public services,” Diokno said in a statement.

The growth was largely due to increased capital outlays and current operating expenses, which rose by 11.5% and 9.6%, respectively. In particular, road improvement and flood control projects under the Department of Public Works and Highways drove the increased spending, alongside repairs and outlays for classrooms and hospitals under the Department of Education and Department of Health.

Tags: , , , , , ,

Related Stories
The central bank used some of the funds to manage the peso-dollar rate.
Telecommunications giant PLDT Inc. expects to finalize negotiations with US-based software and services provider Amdocs
Germany's competition watchdog on Thursday rubbished Lufthansa's claim that recent price hikes on domestic routes


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.