Infrastructure, other capital spending up 95.9 percent in AprilInfrastructure and other capital expenditures surged in April, the Budget department reported on Wednesday, with the government said to be keeping its “foot on the gas pedal” with regard to promises to boost outlays for economic development. “Infrastructure and other capital spending surged … on account of various road infrastructure projects by the Department of Public Works and Highways,” the Budget department said in a statement. Infrastructure and capital spending boosted total government disbursements, which was previously reported to have reached P261.2 billion in April. “We are keeping our foot on the gas pedal with regards to government spending,” Budget Secretary Benjamin Diokno said. The government, which is targeting 7.0-8.0 percent GDP growth for 2018, is banking on its “Build Build Build” program to provide the impetus.

Source: Manila Times May 30, 2018 16:52 UTC