The Government of Philippines has recorded an increased infrastructure spending by 43.2 per cent year-on-year amounting to PHP426.6 billion in the first half of 2021. Infrastructure and other capital outlays reached PHP419 billion in June 2021, up from PHP297.9 billion in 2020, a 1.7 per cent increase over the target of PHP419.6 billion.
In addition, second-quarter infrastructure investment increased by 63.2 per cent year on year to PHP231.4 billion, up 3.1 percent from the P224.4 billion planned for April to June 2021. Infrastructure payments totalled PHP94.4 billion in June 2021, up 50.4 per cent from PHP62.8 billion in 2020. The increase in June 2021 infrastructure spending can be directly linked to some of the country’s major infrastructure projects. Among these are the Department of Public Works and Highways’ road infrastructure initiative, Mass Rapid Transit (MRT) 3 renovations, and Phase 1 of the Metro Manila Subway.
The government has earmarked 5.1 percent of Philippines’ GDP or an equivalent of PHP1.02 trillion in infrastructure spending for 2021, including those carried out by local governments and state corporations.
