Infrastructure spending to climb by 4% in 2015

In an effort to address underspending in 2014, the government will increase infrastructure investments by 4% of projected gross domestic product (GDP) in 2015, the Department of Budget and Management (DBM) said. DBM said it already released P2.037 trillion ($461.95 billion) or 78% of the P2.606 trillion ($591.53 billion) budget for 2015 at the start of the year to address procurement and implementation delays and fast track the release of funds for public goods and services. The Department of Public Works and Highways is allowing P185.8 billion ($4.21 billion) for the completion of all national roads by 2016 and all national bridges by 2015. The World Bank has cautioned that restricting government spending for much-needed infrastructure could curtail the country’s long-term growth.

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