The government will boost public spending to ensure that it is aligned with the original national expenditure plan and to make up for the slower growth in the third quarter, President Ferdinand Marcos Jr. said on Thursday.
During a press conference in Malacañang, Marcos said several factors have contributed to the downturn in economic activity in the third quarter, which saw a below forecast four percent growth in gross domestic product (GDP).
Aside from the ongoing investigation and reforms in public infrastructure projects, the country was hit by successive natural disasters and typhoons, with working days lost because of climate change
Because the public spending now will be increased to make sure that by the end of the year, the levels of public spending are according to our original plan. So, mababawi natin ‘yung nawala sa third quarter,” the President added.
Government infrastructure spending fell by 26 percent as stricter measures were put in place due to the flood control scandal. In addition, household spending went up by only 4.1 percent. Presidential News Desk-DMS



