The government is allocating a bigger P1.42-trillion budget for infrastructure development under the 2024 National Expenditure Program in a bid to spur higher economic growth, Budget Secretary Amenah Pangandman said.
In a statement Tuesday, she said the amount is 6.6 percent higher than the P1.33 trillion allotted for this year.
“To create more jobs and promote investments over the medium term, infrastructure development will foster an environment conducive for businesses and investments through enhanced connectivity and reduced costs of logistics and transport,” Pangandaman said.
President Ferdinand Marcos Jr. has earlier identified infrastructure development as a key factor in achieving the administration’s goals.
Almost half of the proposed infrastructure budget, or 43.5 percent, will go to transport-related facilities, such as road networks. This has an allocation of P463.25 billion or 32.68 percent of the proposed total budget for infrastructure.
The funding for railway systems of P153.5 billion is also bigger by P113.4 billion or 283 percent compared to its P40.1 billion allotment in the 2023 General Appropriations Act.
As a proactive measure to mitigate damages during calamities, the allocation for flood control systems is at P255 billion or 18 percent of the Build Better More program.
In addition, investments in social infrastructure include provisions for school buildings at P40.6 billion; hospitals and health centers, at P15.31 billion; and housing and community facilities, at P2.12 billion.
These will necessitate allocations for water supply systems worth P5.43 billion, along with adequate sanitation facilities and power supply systems for P3.58 billion, including households and state universities and colleges, among others, nationwide, the DBM said.
The Build Better More program includes the Public Sector Infrastructure budget of the Department of Transportation (DOTr) at P176.4 billion, and the Department of Public Works and Highways (DPWH) at P801.2 billion.