The Duterte administration is now carrying out its aggressive infrastructure modernisation programme.(Photo: philstar.com)
Hanoi (VNA) - The Philippines' actual disbursements in2018 was estimated at 3.41 trillion pesos (65.22 billion USD), PhilippineBudget Secretary Benjamin Diokno said on March 6.
The amount is slightlyhigher than the programmed disbursements of 3.37 trillion pesos (64.46 billionUSD), said Diokno, who was recently appointed as the governor of the Philippinecentral bank, Bangko Sentral ng Pilipinas (BSP).
This reverses 12 straight years of underspending where actual disbursements ofthe national government fell short of the programme, he said.
Spending was gone more into public infrastructure and personnel services, hesaid, adding that spending for infrastructure reached 886.2 billion pesos(16.96 billion USD), which is higher than the target of 868.6 billion pesos(16.63 billion USD) and is equivalent to 5.1 percent of the gross domesticproduct (GDP).
The Duterteadministration is now carrying out its aggressive infrastructure modernisationprogramme and reform agenda at full throttle to prop up the country's status asAsia's new economic powerhouse.
The economy expanded by6.2 percent during the year, recording 20 consecutive years of growth thatproved true its resiliency to external headwinds.-VNA
VNA
