Gov’t to Boost Spending This 2020

The government will boost spending this year, especially on infrastructure and social programs to shield the economy from the effects of the coronavirus pandemic, softer global demand, and the Taal Volcano eruption at the start of the year, according to the Budget department.

Infrastructure spending more than doubled to a record 178 billion pesos in December from 76 billion pesos a year earlier, data showed.

This brought total infrastructure spending to 882 billion pesos last year, 10% higher than a year earlier and bigger than the 859-billion target, the Budget department said.

The agency traced the December spike to disbursements by the Department of Public Works and Highways that rose by 86% year on year.

Catch-up measures included a 24/7 work schedule for the construction of big infrastructure projects and streamlining right-of-way acquisitions, the Budget department said.

Source: https://www.bworldonline.com/govt-to-boost-spending-amid-outbreak/

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