Finance Secretary Benjamin Diokno has reported that the government has been performing admirably in terms of revenue collection in the first five months of the year.
However, the finance chief has expressed his concern over the sluggish spending of government agencies.
Diokno, in a recent briefing, disclosed that the government collected P1.59 trillion from January to May, marking a 10.4 percent or P155.6 billion increase from the P1.44 trillion recorded during the same period last year.
He attributed the improved revenue collection to enhanced tax administration.
However, despite the positive revenue performance, Diokno expressed concern over the slow spending of government agencies.
“It will impact government performance. I’m concerned with the (spending) performance of the government,” Diokno said.
He clarified that the Department of Budget and Management (DBM) should not be held responsible, as it promptly releases funds.
“The agencies are slow. We’re collecting more revenues than forecasted, while they’re underspending. We are below our deficit target. For the fiscal conservative, that’s nice, (but) not necessarily good for a developing country. That’s not good because we are trying to pick up, make up for the pandemic,” Diokno said.
“We need to spend. It’s not a lack of money; it’s the ability to perform,” he added.