AMID concern about balancing good governance reforms with boosting infrastructure spending to reverse a steady slide in growth, the Senate will continue to exercise strict oversight of the country’s infra spend to safeguard public funds and ensure every peso delivers tangible benefits to Filipinos.
Senate President Win Gatchalian gave this assurance on Friday after the Department of Budget and Management (DBM) reported that the government remains on track to meet its P1.3-trillion infrastructure spending target this year despite a five-month slide in public works disbursements.
‘This highlights the need for stricter scrutiny of government infrastructure spending. The Senate will continue to uphold the transparency and accountability measures we embedded in the budget,’ said Gatchalian. As former chair of the Senate Committee on Finance, he spearheaded landmark budget reforms to strengthen fiscal transparency and accountability.
DBM data showed infrastructure spending declined by 42.9 percent to P269.4 billion from January to May, compared with P471.5 billion in the same period last year due to stricter review of infrastructure projects.
‘Infrastructure spending is a key driver of economic growth and job creation. We will ensure that public works funds translate into real economic gains, free from the leakages that have plagued past projects,’ he added.