Infrastructure spending up 45.1 pct in Jan.
MANILA, Philippines (Xinhua) - The government's infrastructure spending jumped by 45.1 percent on year to P23.8 billion ($531.41 million) in January, the Department of Budget and Management (DBM) said today.
Budget Secretary Florencio Abad said the upsurge in infrastructure spending was mainly due to the government's rehabilitation and reconstruction of areas devastated by super typhoon Haiyan (local name: Yolanda).
The DBM said funds were also released for the Agriculture and Fisheries Modernization Program, Development of Crop Sector Program, creation of new teaching positions, and for roads and flood control projects.
In February, the Philippine government said it will spend P404.3 billion ($8.99 billion) or 3.1 percent of the country's gross domestic product for various infrastructure projects this year.
- Latest
- Trending
