SECTOR: Infrastructure
SONA YEAR: 2022
Sustain infra spending at 5 – 6% of GDP
PROMISE STATUS - DATE: In progress as of 07/17/2023
- According to the DBM, the full-year infrastructure spending for 2022 was equivalent to 5.8% of the country’s gross domestic product (GDP). This is better than the 5.5% target this year and has sustained 2021’s 5.8%.
- As of April, the infrastructure disbursements and capital outlays reached P346.9 billion. According to the DBM, this higher number was due to the accelerated implementation of various DPWH infrastructure projects and the direct payments from development partners of DOTr’s foreign-assisted rail projects.
- For 2023, the government plans to spend 5.3% of GDP on infrastructure, equivalent to P1.29 trillion. The government also targets infrastructure spending of up to 5% to 6% of GDP, or between P1.3 to P2.3 trillion every year, until 2028.
- On June 7, Finance Secretary Benjamin Diokno said that 10% to 12% of infrastructure spending can be attained as early as next year “if public-private partnerships (PPP) and the Maharlika Investment Fund are continued.”