Gov’t pumps up spending in August | Bilyonaryo Business News
Business

Gov’t pumps up spending in August

Gov't pumps up spending in August

Government spending picked up in August, ita fastest pace since February, driven by higher subsidies to government-owned and -controlled corporations and local government allotments.

Government spending picked up in August, ita fastest pace since February, driven by higher subsidies to government-owned and -controlled corporations and local government allotments.

According to the Bureau of the Treasury, total expenditures rose 8.78 percent to P282 billion. Spending on infrastructure and other capital outlays accelerated by 13.6 percent to P262.6 billion.

Higher subsidies to GOCCs and allotment to towns, cities, and provinces drove budget expenditures, while interest payments for old debts amounted to P8.7 billion.

Year-to-date spending increased by 0.94% to P2.2 trillion.

 
0 0 votes
Article Rating
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x