Gov't spending for third quarter increased: NEDA official
Government spending for the third quarter increased, a National Economic Development Authority (NEDA) official said Tuesday.
This was announced by NEDA Undersecretary Rosemarie Edillon in a press conference.
"For the spending, the DBM (Department of Budget and Management) reported our progress. Actually for this third quarter, the spending of agencies has increased," she said.
''The catch-up plans were already submitted. That is why many of them have increased their spending for the third quarter. We're expecting, actually the data is until the end of September. So, we’re really able to plug those holes," she added.
Second quarter gross domestic product went down to 4.3 percent from 6.4 percent in the first quarter, mainly due to a 7.1 percent decline in government spending.
Third quarter growth figures will be announced on Thursday.
To bring growth back on track, economic managers said government spendng will be accelerated for the third quarter.
"While government expenditure contracted by 7.1 percent in the absence of election-related spending in the first half of the year, government spending will accelerate in the coming quarters to allow us to recover our growth momentum," a statement by economic managers said in the second quarter.
Edillon said based on what she remembered, the government agency which recorded a significant increase in the third quarter spending were the Department of Public Works and Highways and the Department of Social Welfare and Development.
Spending as of end-September amounted to P3.82 trillion, an improvement from the P2.41 trillion recorded as of June, but P40.90 billion short of the P3.86 trillion programmed.
By the end of the year, the DBM projects disbursements to reach P5.32 trillion, higher than the P5.23 trillion program and P5.16 trillion recorded last year. Robina Asido/DMS
