Government Expenditures

BSP chief: Quicker spending by gov’t key to economic activity during pandemic

Published by rudy Date posted on December 3, 2020

by Daxim L. Lucas, Philippine Daily Inquirer, 3 Dec 2020 MANILA, Philippines—The central bank called on the national government to accelerate its own spending program to boost growth amid emerging data that the private sector remains gun shy on taking out loans, which are now at their cheapest in history, which would generate economic activity.

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IMF calls on rich nations to boost public investment

Published by rudy Date posted on October 7, 2020

Read more here.

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Govt borrowings hit P289B in May

Published by rudy Date posted on July 13, 2020

By Mayvelin U. Caraballo, Manila Times, 13 Jul 2020 The national government’s gross financing in May increased to over P289 billion, bringing the year-to-date borrowings to P1.50 trillion, data released by the Bureau of the Treasury (BTr) showed.

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Economic managers lay down spending catch-up plan

Published by rudy Date posted on May 25, 2019

by Mary Grace Padin (The Philippine Star), May 25, 2019 MANILA, Philippines — The Duterte Cabinet’s Economic Development Cluster (EDC) remains confident that the government would be able to meet its spending target for 2019 as line agencies laid out their respective “catch up” plans for the rest of the year, according to the Department…

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GOCC subsidies up to P103 B in 2016

Published by rudy Date posted on March 20, 2017

By Mary Grace Padin (The Philippine Star), Mar 20, 2017 MANILA, Philippines – Subsidies to government-owned and -controlled corporations (GOCCs) went up in 2016, with the bulk of the amount going to health care services, data from the Bureau of the Treasury (BTr) showed.

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3-year blueprint pegs infrastructure spending at P3 trillion

Published by rudy Date posted on April 19, 2016

by Cai Ordinario – April 19, 2016, http://www.businessmirror.com.ph/3-year-blueprint-pegs-infrastructure-spending-at-p3-trillion/ The government is targeting to spend as much as P3 trillion for infrastructure projects, from 2017 to 2019, in keeping with its goal of hiking public-infrastructure spending to at least 5 percent of GDP.

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How countries spend their money

Published by rudy Date posted on September 14, 2015

IT SEEMS a country’s spending reflects its national stereotypes, according to household expenditure data compiled by Eurostat: Russians splash 8% of their money on booze and cigarettes—far more than most rich countries—while fun-loving Australians spend a tenth of theirs on recreation, and bookish South Koreans splurge more than most on education.

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Government spends P505 B in 2014 to pay debt

Published by rudy Date posted on April 6, 2015

MANILA, Philippines – The government spent P505 billion last year to pay portion of its debts, 7.9 percent lower than the P559 billion in the same period last year.

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Aquino admin submits proposed 2014 Budget to Congress

Published by rudy Date posted on July 23, 2013

Sec. Abad: New expenditure plan a blueprint for inclusive growth A day after President Benigno Aquino III delivered his 4th State of the Nation Address (SONA), Secretary of Budget Florencio “Butch” Abad will be submitting to Congress today the National Expenditure Program for FY 2014—a blueprint of the Aquino Administration’s development agenda to sustain the…

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Another underwhelming year

Published by rudy Date posted on March 6, 2013

IN 2011, the Philippine government targeted a budget deficit of ₱290 billion, equivalent to 3.2% of gross domestic product (GDP). It was so slow in implementing authorized public projects, that it ended up with a deficit of ₱197.8 billion, or ₱92.2 billion lower. By any standard, 2011 was a bad year. But 2012 was not…

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Wimpy kids

Published by rudy Date posted on February 20, 2013

WHY DO our economic managers continue to underspend for public infrastructure given the poor state of our airports, seaports, roads and bridges, urban mass transport, and the flickering power supply, and given that the cost of public borrowing is at its historic low? Why do they rejoice whenever the budget deficit is below planned target,…

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Aquino gov’t falls short of jobs, spending targets

Published by rudy Date posted on January 7, 2013

MANILA, Philippines – The Aquino administration has fallen short of its employment generation target of a million per year, while its public spending ratio continued to slide.

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Spending still lagging

Published by rudy Date posted on October 30, 2012

INFRASTRUCTURE spending remained well below the full-year program as of September, Budget department data showed, as disbursements to some agencies were underutilized and funds remained unreleased. Budget gap widens, still well below targetSpending plan reviewedCoA questions agency’s unauthorized spendingSubsidies to state firms dropGov’t still to catch up on spending target

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Earmarking of State revenue is overrated

Published by rudy Date posted on October 3, 2012

THE PROPONENTS of higher tax on sin products, especially on cigarettes, argue that earmarking of incremental revenues is one way of ensuring the adequacy of government spending for basic health care. While I agree that the government is perhaps not spending enough for health care, I doubt that earmarking of government revenue would be a…

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Spending boost planned

Published by rudy Date posted on September 16, 2012

A REPEAT of last year’s spending “stimulus” is being planned by the Budget department, which wants to realign government agencies’ unused funds for priority projects in the fourth quarter. “[A]nother Disbursement Acceleration Program (DAP) is planned for implementation this year, based on the extent of appropriations which remain unobligated to date,” states a Budget department…

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Gov’t spending to increase in H2

Published by rudy Date posted on September 4, 2012

MANILA, Philippines – The Aquino administration said government spending is expected to jump further in the second half of the year and would sustain the improvement in disbursements. The government has been trying to improve spending to boost economic growth, which grew 5.9 percent in the second quarter of the year from 6.4 percent in…

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Spending goals still a way off

Published by rudy Date posted on September 3, 2012

PUBLIC SPENDING may have increased significantly as of July but the government still has a lot of ground to cover if it is to achieve full-year targets, Budget department data showed. Capital outlays hit P148.7 billion in the January-July period, up 39% from the previous year. The figure, however, is just 39.72% of the P374.4-billion…

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Spending to stay strong

Published by rudy Date posted on August 29, 2012

PUBLIC SPENDING should remain strong in the second semester as the government undertakes reconstruction efforts following recent calamities, a Cabinet official said.

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Spending up on funding threat

Published by rudy Date posted on August 27, 2012

PUBLIC SPENDING last month spiked to its highest level so far this year as government agencies responded to budget reforms, particularly a threat to withdraw all unused funds by the end of this quarter.

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Deficit more than doubles

Published by rudy Date posted on August 23, 2012

THE GOVERNMENT more than doubled its first semester fiscal deficit in July as it posted its highest monthly spending performance so far this year.

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Gov’t releases 75% of 2012 budget to perk up economy

Published by rudy Date posted on July 18, 2012

MANILA, Philippines – The Aquino administration has released P1.36 trillion or 74.9 percent of the P1.816-trillion 2012 national budget as of end-June, the Department of Budget and Management (DBM) said yesterday. The move is in line with the government’s goal to accelerate budget releases to make up for the under spending last year and to…

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Gov’t wants P2 T for 6-7% growth

Published by rudy Date posted on July 10, 2012

MANILA, Philippines – The Aquino administration is seeking P2.006 trillion as appropriation for 2013 to fund projects that aim to bolster the country’s bid to achieve economic growth of six to seven percent in 2013, Budget and Management Secretary Florencio Abad said yesterday.

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Gov’t wants P2 T for 6-7% growth

Published by rudy Date posted on July 10, 2012

MANILA, Philippines – The Aquino administration is seeking P2.006 trillion as appropriation for 2013 to fund projects that aim to bolster the country’s bid to achieve economic growth of six to seven percent in 2013, Budget and Management Secretary Florencio Abad said yesterday.

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DBM sets P241-billion budget deficit for 2013

Published by rudy Date posted on June 28, 2012

BUDGET Secretary Florencio Abad said on Wednesday that they are going to trim the government’s budget deficit to 2 percent of the country’s gross domestic product (GDP) in 2013, lower than 2.6 percent ceiling for 2012.

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Reset

Published by rudy Date posted on June 27, 2012

The January-May 2012 actual fiscal numbers suggest that the kinks that bug project implementation in the Aquino administration remain. Using the most likely case, spending for public infrastructure and other capital outlays, will be off by about 30% during the first half of the year. A pickup in the third quarter is unlikely because of…

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Government expenditures still well below 2012 goals

Published by rudy Date posted on June 27, 2012

STATE SPENDING remains well below programmed amounts for the year despite significant year-on-year gains as of May, data from the Budget department showed.

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Noynoy reduces deficit cap for 2012

Published by rudy Date posted on February 6, 2012

President Benigno Aquino III has set a lower deficit cap for the current year, setting sight on a 2.6 percent limit for fiscal year 2012, lower than the target set for 2011.

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Yearender: Government to step up spending in 2012

Published by rudy Date posted on December 30, 2011

MANILA, Philippines – The “problem” the government wants to have more than anything now is a wider budget deficit. It’s ironic because for years, the government has been trying to narrow the budget gap and the previous administration even attempted to balance the budget by 2010 supposedly.

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Yearender: Government to step up spending in 2012

Published by rudy Date posted on December 30, 2011

MANILA, Philippines – The “problem” the government wants to have more than anything now is a wider budget deficit.

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Stimulus spending stepped up, says Abad

Published by rudy Date posted on December 14, 2011

The government has released P61.28 billion or 85 percent of the stimulus package as it tries to catch up on its spending to spur economic growth in the fourth quarter, Budget chief Florencio Abad said on Tuesday.

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