Infrastructure development will have a total allocation of P1.42 trillion in the 2024 National Expenditure Program (NEP), 6.6 percent more than the P1.33 trillion allotted for 2023, according to the Department of Budget and Management (DBM.
DBM Secretary Amenah Pangandaman said in a statement almost half of the proposed infrastructure budget, or 43.5 percent, will go to transport-related facilities, such as road networks.
Pangandaman said this has an allocation of P463.25 billion or 32.68 percent of the proposed total budget for infrastructure.
Funding for railway systems is at P153.5 billion, a 283 percent increase compared to its P40.1 billion allotment in the 2023 General Appropriations Act (GAA).
Pangandaman said allocation for flood control systems is at P255 billion or 18 percent of the total infrastructure budget.
Investments in social infrastructure include provisions for school buildings at P40.6 billion; hospitals and health centers, at P15.31 billion; and housing and community facilities, at P2.12 billion.
These will necessitate allocations for water supply systems worth P5.43 billion, along with adequate sanitation facilities and power supply systems for P3.58 billion, including households and state universities and colleges among others, nationwide.
The Build Better More program includes the Public Sector Infrastructure budget of the Department of Transportation at P176.4 billion, and the Department of Public Works and Highways at P801.2 billion.
“To create more jobs and promote investments over the medium term, infrastructure development will foster an environment conducive for businesses and investments through enhanced connectivity and reduced costs of logistics and transport,” Pangandaman said.
