Manila, Philippines- After its sluggish performance in the previous quarters, public construction is now revving up as government allocated $16.4-billion budget on infrastructure for fiscal year 2016, latest data from the Department of Budget and Management(DBM) showed.
According to the DBM, out of the $16.4-billion infrastructure budget this year, the Department of Public Works and Highways (DPWH) received the biggest share that amounted to $5.7-billion. The rest of the budget is divided between Department of Transportation and Communications (DOTC) and other railway systems projects.
Moreover, the outgoing Aquino administration remains consistent on its dedication in maintaining good governance, promoting inclusive growth, and sustaining growth momentum in order to hand in a healthier economy to its successor.
Three-Year Rolling Infrastructure Plan (TRIP)
Another Infrastructure effort from the Aquino administration is seen in the collaboration of the Department of Budget and Management (DBM), the National Economic and Development Authority (NEDA) and Department of Finance (DOF).
The three fiscal agencies conceived the Three-Year Rolling Infrastructure Plan (TRIP) to address the gap between infrastructure planning and budgeting. Approved to be incorporated in the budget process in July this year, TRIP ultimately ambitions for a higher public construction spending and efficient focus on strategic infrastructure priorities.