Govt infrastructure spending hits 4-month low

The national government's infrastructure spending has dropped for the fourth month in a row, reaching its lowest point since April.

In October, infrastructure spending was P65.9 billion, a 40 percent decrease compared to the P110 billion recorded last year.

The Department of Budget and Management (DBM) cited the non-submission of billings by contractors as a primary reason for the decline.

Authorities are currently validating flood control projects due to corruption allegations, causing delays in payments.

Other contributing factors include delays in contractor license renewals, adverse weather conditions, and pending tax clearances from the Bureau of Internal Revenue.