Gov't jacks up infra spending to P1.2 T in 2023

The government jacked up its infrastructure spending last year, hitting P1.2 trillion and effectively surpassing its programmed allocation on the back of faster disbursements for major transport and road projects, according to the Department of Budget and Management.

- LOUISE MAUREEN SIMEON

Based on the latest national government disbursement performance report of the DBM, state infrastructure expenditure and other capital outlays picked up by nearly 20 percent to P1.2 trillion in 2023 from P1.02 trillion in 2022.

Infrastructure expenditures accounted for about 22 percent of the record P5.34 trillion government disbursements last year.

Last year's infrastructure spending also surpassed the P1.04 trillion program by P167.7 billion or 16.2 percent due to the faster disbursements of some agencies, particularly the Department of Public Works and Highways (DPWH).

Total infrastructure spending was equivalent to 5.8 percent of the country's gross domestic product (GDP).

This was the same level in 2022 but was above the 5.3-percent target set by the government for last year.