DBM: Public infra spending to rebound in 2021
While infrastructure spending took a backseat to big financing needs for COVID-19 response this year, the Department of Budget and Management (DBM) said big-ticket projects will be allocated a bigger…
P2.4B already released by DBM to OCD for COVID-19 spending
The Department of Budget and Management (DBM) has already released P2.4 billion from this year’s calamity funds for COVID-19 expenses. Documents showed that the DBM issued special allotment release orders…
COVID-19 spending plus low collection equals 10,000 percent deficit jump since 2019
Spending on public goods and services more than doubled in April as the government tried to ease the pain inflicted on vulnerable sectors by the COVID-19 pandemic but with barely…
S. Korea to keep aggressive spending to address coronavirus pandemic
(Yonhap) via The Korea Herald SEJONG — South Korea will maintain its aggressive fiscal spending as it is set to unveil the third extra budget early next month to minimize…
COVID-19 shadow loomed large over decline of first quarter infra spending
Public infrastructure spending rose in March, but first-quarter total fell year-on-year and below target, squeezed partly by the COVID-19 lockdown that started middle of March and froze major projects, the…
Jollibee spending P7B to restructure global operations
Jollibee Manhattan —Contributed photo Homegrown fast-food giant Jollibee Foods Corp. (JFC) is spending P7 billion to implement “significant” changes to its global business structure, including the streamlining of non-performing stores…
COVID-19 impact: ECQ limits gov’t spending, narrows first quarter budget deficit to P74B
The budget deficit narrowed to P74 billion at the end of the first quarter, partly as the national government spent less than the three-month expenditures program due to the COVID-19…
PLDT slashes 2020 spending plan by P20B
Telco giant PLDT Inc. is slashing its spending target this year by some P20 billion as strict quarantine measures around the country hampered its growth. From a record P83 billion…
MPIC sees 50% cut in capital spending
Infrastructure holding firm Metro Pacific Investments Corp. (MPIC) has turned more optimistic on reaching a “bankable” new concession deal for Maynilad Water Services Inc. through an out-of-court settlement with the…
Infra spending down in February
Philippine infrastructure stock photo. INQUIRER.NET MANILA, Philippines — The amount spent by the government to build infrastructure declined in February, a month before the enhanced community quarantine (ECQ) was imposed…