National Government disbursements up by 14.1% year on year as of November

A December 27, 2012 press release from the Department of Budget and Management

Secretary Abad: November spending 21.9% more than January–October monthly average

Public spending has sustained its momentum, as the Department of Budget and Management (DBM) reported that national government disbursements from January to November this year increased by 14.1 percent to P1.54 trillion, from P1.35 trillion in the same period of 2011.

Secretary Florencio B. Abad reported that disbursements net of interest payments during the 11-month period have increased by 14.5 percent year-on-year to P1.25 trillion. He noted that the growth rate of agency disbursements is faster than the 12.3 percent growth of interest payments.

He also announced that spending in November reached P166.9 billion, 10.7 percent more than the P150.7-billion spent in November 2011. Non-interest disbursements in the month have increased by 12.6 percent; however, this was tempered by the 4.6 percent decline in interest payments.

He emphasized that November has been the highest-spending month so far this year. The said month’s disbursement level was also 21.9 percent more than the average monthly spending of P136.9 billion from January to October.

“The reforms that the Aquino Administration has introduced since it came to power have certainly made a significant impact: not only in terms of accelerating the pace of disbursements but also by deepening transparency and accountability in public financial management,” he said.

“With a stronger fiscal environment, we are confident that public services are delivered with impact, that our country’s risk profile is being further improved, and that our economy continues to grow in a rapid, inclusive and sustained manner,” he said.

The Economic Manager said that with the improved performance of public spending, the national government deficit as of November has reached P127.3 billion, which 32.3 percent more than the P96.3-billion deficit incurred in the same period of last year.

He likewise cited the marked improvement in the collection of revenues, which expanded by 12.7 percent year-on-year to P1.41 billion in the 11-month period; and by 29.2 percent and 20.6 percent in October and November, respectively.

dbm.gov.ph

GPH Website

http://www.gov.ph/

links:

http://www.gov.ph/2012/12/27/national-government-disbursements-up-by-14-1-year-on-year-as-of-november/

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