National Treasurer Rosalia de Leon said yesterday that they were already seeing strong budget utilization in August, a reversal of the lower-than-expected disbursements registered in the first seven-month of the year.
Last week, the treasury bureau reported that public spending dropped by 0.11 percent or P2.1 billion in January to July this year to P1.929 trillion. Of that amount, primary expenditures fell 1.3 percent, to P1.698 trillion, while interest payments increased by 10 percent to P231 billion. “The funding that we have already secured earlier on and even in the coming quarter, that would really be deployed,” the treasurer said.
On the other hand, expenditures rose by 3.4 percent year-on-year to P339.4 billion in July from P328.1 billion. Interest payments cornered P51 billion.
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