The government’s disbursements for infrastructure and other capital outlays inched up by 0.5 percent in October versus the year ago level, data released by the Department of Budget and Management (DBM) showed.
In a report posted on its website, the DBM said infrastructure spending amounted to P61.2 billion in October, up from the P60.9 billion recorded in the same period a year ago.
The DBM said growth was nearly flat as increases recorded in the Department of Public Works and Highways and the Department of Transportation for their road and transport infrastructure projects, respectively, were partly offset by the lower capital outlay disbursements for the Armed Forces of the Philippines Modernization Program of the Department of National Defense, as well as minimal direct payments made by donor partners for foreign-assisted projects.
In January to October, infrastructure spending rose 12.3 percent to P788.9 billion from the P702.4 billion in the same 10-month period in 2021.
Total national government disbursements in October 2022 alone grew by 22.2 percent to reach P387.9 billion.
For the first 10 months of 2022, national government spending reached P4.06 trillion, up by 9.9 percent year-on-year.
