Gov't on track to hit P2.9T spending target this year

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Asean Affairs October 19, 2017

Gov't on track to hit P2.9T spending target this year —DBM

The government expects to hit the P2.909-trillion spending target this year, in light of faster project implementation as 2017 draws to a close.

"We are optimistic that we will approach our full-year target of P2.909 trillion and will continue to exert our best efforts to reach our goals," Budget Secretary Benjamin Diokno said in a press conference in Manila City on Wednesday.

"Disbursements will continue to be buoyed by higher spending requirements of line agencies in the succeeding months given the acceleration of program or project implementation as we approach the year end," he added.

Fiscal spending reached P201.6 billion in August, up 13.9 percent from P177 billion a year earlier.

As of end-August, some P462.7 billion of the P3.35-trillion obligation program for the full year was still to be released.

Of the amount, P236.8 billion has been earmarked for Special Purpose Funds.

"Most, if not all, of this amount is expected to be released before the end of the year to fulfill budgetary requirements in government subsidies, the release of performance-based bonus, among others," the DBM said in a separate statement.

"We have a lot of surprises," Diokno said, noting additional expenses were brought about by recent developments such as the armed-conflict in Marawi City. — VDS, GMA News

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ASEAN ANALYSIS

This year in Thailand-what next?

AseanAffairs 04 January 2011
By David Swartzentruber

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

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