NATIONAL government spending has jumped by 15.5 percent in January 2018, driven by the Duterte’s administration’s “Build, Build, Build” program and the 100-percent pay hike for the military, police and other uniformed personnel, Budget Secretary Benjamin Diokno said on Wednesday. Speaking to reporters during “Breakfast with Ben,” Diokno said spending reached P228.7 billion in January driven by double-digit growth from all major expenses, namely infrastructure and personnel services spending. “We have a P3.8 trillion National Budget for Fiscal year 2018 and we expect public spending to support our growth objective of 7 percent to 8 percent this, especially with the ambitious Build, Build, Build Program,” Diokno said. “Ultimately, timely and efficient public spending should translate to improved socio-economic opportunities and outcomes for our people,” he added. Diokno also reported that as of end-January 2018, the Budget department has released P2.967 trillion of the P3.767 trillion obligation budget.

Source: Manila Times April 11, 2018 03:56 UTC