Infrastructure spending to sustain rise in second half: Diokno

ABS-CBN News

Posted at Jul 06 2017 02:58 PM

MANILA - Budget Secretary Benjamin Diokno said he expected infrastructure spending to further speed up in the second half, after disbursements rose to their fastest pace this year in May. 

Infrastructure and other capital spending jumped 31.4 percent in May to P46.2 billion from P35.2 billion in the same month last year with the completion of road construction, repair and rehabilitation projects, as well as flood control facilities, government data showed

The defense department's requirements for the purchase of anti-submarine helicopters also boosted spending during the period.

"It will pick up. The second half will be much better than the first half. Construction is like a curve, it will start slow and then towards the end it will accelerate," Diokno said.

The DBM said the government spent P117.5 billion for public works in the first three months of the year, or 8 percent higher than its revised goal of P108.9 billion.

For the second-quarter, the DBM set an infrastructure spending target of P127.74 billion. 

The DBM expects infrastructure spending to rise to P137.79 billion in the third quarter, and to P174.92 billion in the fourth quarter.