ASEAN KEY DESTINATIONS
Gov't underspending falls to 0.4% at P6B in H1
Government underspending fell to 0.4 percent or P6 billion during the first half of the year as a result of the administration's expansionary fiscal policy, Budget Secretary Benjamin Diokno reiterated Friday.
"For the first semester of 2017, actual spending is almost in the dot given that underspending has been cut to 0.4 percent or P5.9 billion," Diokno said during the Economic Journalists Association of the Philippines (EJAP) Economic Forum in Manila.
The underspending level compares with 12.8 percent or P328 billion in 2015 and 13.3 percent or P302 billion in 2014.
It also compares with the full-year underspending of 3.6 percent or P96.3 billion last year, Diokno said.
"Our first semester performance reveals a greater potential in achieving our spending targets," the Budget chief noted.
"Given the expansionary fiscal policy, most concerns are on the government's absorptive capacity in utilizing the billions of pesos ... such an enormous amount," he said.
With the administration on track to achieving its spending targets, Diokno allayed doubts about the inability of the government in disbursing the allotments to fund infrastructure projects.
The government intends to spend up to P9 trillion on infrastructure projects during the term of President Rodrigo Duterte.
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