Gov't misses infrastructure spending target
MANILA – The government on Tuesday said it probably missed its infrastructure spending target last year by 12 percent, which means it may not be helping the economy as much as it can.
According to data from the Development Budget Coordinating Committee (DBCC), government (both national and local) spent just P256.2 billion in 2013, lower than its P291.2 billion infrastructure budget.
The national government only spent P198 billion of its P221 billion budget.
Local governments, on the other hand, overspent and used up P47 billion or P12 billion more than its P35 billion target.
The government needs to improve the country's infrastructure to help businesses and attract investment, both of which create jobs.
Socioeconomic Secretary Arsenio Balisacan, meanwhile, said the government needed to expand the infrastructure budget for 2014 to support the P90.6 billion rehabilitation and reconstruction efforts in areas hit by recent calamities. -- With ANC