DBM: Infrastructure spending to rebound in 2021

The Department of Budget and Management (DBM) announced that while infrastructure spending has been reduced in 2020 due to the pandemic, it plans a significant increase for 2021.

For 2020, the infrastructure budget was cut from P989 billion to P833 billion, representing 4.6% of GDP.

The proposed national budget for 2021 is set at P4.335 trillion, with P1.131 trillion allocated for public infrastructure, equivalent to 5.3% of GDP.

This increase aims to fast-track the completion of major projects under the 'Build, Build, Build' program and stimulate economic recovery post-pandemic.

The higher budget is expected to create between 140,000 and 220,000 additional jobs through direct and indirect employment.