Gov’t Infrastructure Spending Reaches P720.5B in First Half of 2024

The Philippine government’s infrastructure spending surged in the first half of 2024, reaching P720.5 billion, marking a significant 18.4% increase from the same period last year. This growth was primarily driven by the timely execution of various road projects by the Department of Public Works and Highways (DPWH), according to the Department of Budget and Management (DBM).

At the Kapihan sa Manila Bay news forum, Budget Secretary Amenah Pangandaman highlighted that the infrastructure disbursements for the first six months accounted for 5.7% of the country’s GDP, slightly above the full-year target of 5.6%.

In comparison, infrastructure spending in the January to June 2023 period totaled P608.6 billion. The 2024 first-half disbursements also exceeded the target of P671.3 billion by 7.3%, or P49.2 billion.

Pangandaman attributed this growth to the DPWH’s early procurement and prompt implementation of projects, with many initiatives already underway by January. The increased spending also reflects the progress of various road infrastructure programs, ongoing DPWH projects nationwide, and capital outlay projects under the Revised AFP Modernization Program (RAFPMP) of the Department of National Defense (DND).

For the entire year of 2024, the government has allocated P1.510 trillion for infrastructure, up by P180 billion from the P1.130 trillion set aside in the previous year.