(MENAFN) A Filipino senior government official said that the government"s infrastructure and capacity outlay (CO) spending increased 49 percent to USD1.13 billion in February 2014, compared to USD752.88 million a year ago, Xinhua reported.
According to Budget and Management Secretary, the increase of infrastructure spending boosted overall government payments by 11 percent to USD7.08 billion, compared to USD6.38 billion year-on-year.
"The Aquino Administration's reforms for faster budget execution continue to gain momentum. For one, the GAA (General Appropriations Act)-as-Release Document policy allowed us to streamline the budget release process and enable government agencies to roll out infrastructure projects early in the fiscal year," he said.
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