Infrastructure spending fell 38.3% month on month in October to P61.2 billion, according to the Department of Budget and Management (DBM). READ:
PHILIPPINE STAR/ MICHAEL VARCAS
The DBM said in October, disbursements fell for the Armed Forces of the Philippines Modernization Program, which offset the increased spending on infrastructure projects overseen by the Department of Public Works and Highways and Department of Transportation. UnionBank of the Philippines, Inc. Chief Economist Ruben Carlo O. Asuncion said October spending was “consistent” with the government’s narrower budget deficit and even lower debt stock.
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