Diokno optimistic gov’t to achieve full-year target P2.9-trillion spending

October 18, 2017

Budget Secretary Benjamin Diokno expressed optimism on Wednesday the government could attain its full-year target of P2.909 trillion spending as disbursements in August grew by 13.9 percent year-on-year. The government has spent P201.6 billion in August, up from P177 billion last year, Diokno said in a press briefing in Manila. This brought state spending to P1.78 trillion from January to August this year, or 9.8 percent higher compared to the same period in 2016. Diokno admitted that in the economic team's recent briefing with foreign investors in New York, the latter raised the government's underspending. He said he told foreign businessmen that President Rodrigo Duterte has a strong message for the spending ministers that they have to use the budget or lose it, including their job. Quoting Duterte, Diokno said :"Use it or lose it, not lose your budget. Lose your job." "Disbursements will continue to be buoyed by higher spending requirements of line agencies in the succeeding months given the acceleration of program or project implementation as we approach the year end, especially so, with the one-year validity of the 2017 appropriations," Diokno said. "We are optimistic that we will approach our full year target of P2.909 trillion and will continue to exert our best efforts to reach our goals," he added. Celerina Monte/DMS