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.