DPWH Obligates
44% of P479-B allotment before election ban
Higher
government spending on infrastructure will boost GDP growth in the first
quarter, according to Budget Secretary Florencio B. Abad.
“We
should have good first quarter growth bolstered by the high obligation rate of
the DPWH and by election spending,” Abad said.
The
Department of Budget and Management (DBM) reported today that the Department of
Public Works and Highways (DPWH) has obligated 44 percent or P211-billion of
its P479-billion allotment, an increase of 12 percent from the 32-percent
obligation rate over the same period last year.
The DPWH
has also utilized 98 percent of its cash allocation in the first quarter of
2016, resulting in disbursements of P55 billion.
“We laud
DPWH’s successful efforts to ensure the continuity of their projects before the
election ban took effect. These promising figures for obligations and NCA
utilization rates suggest that public construction will continue to drive
growth upwards in the first quarter of 2016 as it did last year,” the Secretary
added.
“I also
want to emphasize that the P205 billion—or 65 percent of the total
allotment—was obligated for regional projects before the start of the election
ban. This means that DPWH will continue to improve local infrastructure
uninterrupted throughout the year,” the Secretary added.
National
Government allotment releases
In
total, 91.8 percent or P1.49 trillion of the P1.62-trillion total budget for
agencies were released in the first quarter of the year, bringing total
releases to 82.3 percent of the P3.002-trillion National Budget for 2016. This
represents a 0.7-percent increase over allotment releases over the same period
last year.
“In the
coming months, the 82.3-percent figure for total allotment releases over
program should increase, as DBM releases NDRRMF funds for calamities or issue
special shares to LGUs from national taxes, for example,” the Secretary said.
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