The Department of Budget and Management (DBM) reported that infrastructure spending in the Philippines reached P1.545 trillion in 2024, representing an 8.9 percent increase from the P1.419 trillion recorded in 2023.
The 2024 infrastructure disbursements exceeded the programmed amount by P72.4 billion, or 4.9 percent. This spending accounted for 5.8 percent of the country’s gross domestic product (GDP), aligning with the government’s target range of 5 to 6 percent under the Medium-Term Fiscal Framework.
The DBM attributed the increased spending to accelerated construction activities by the Department of Public Works and Highways (DPWH) and direct payments for foreign-assisted rail projects under the Department of Transportation (DOTr). Specifically, the DPWH’s progress in carry-over projects and ongoing infrastructure development, along with development partner payments for DOTr rail projects, contributed to the higher disbursement.
The DBM has projected that infrastructure spending will reach 5.4 percent of GDP in the following year.
President Ferdinand R. Marcos Jr.’s “Build Better More” program aims to enhance the country’s infrastructure to improve mobility, connectivity, and stimulate economic growth.