Bohol News Daily

Palace says government to spend more in second half of 2011

THE Aquino administration will carry out more aggressive spending in the second half of 2011 particularly in major infrastructure projects even as it ensures that public money will be spent wisely, Presidential Spokesman Edwin Lacierda said.

In a regular press briefing on Wednesday in Malacanang, Lacierda said the Aquino leadership has to fix the excesses of the past administration by restructuring and reviewing the whole process of allocating and releasing money.

“It took some time for us to do that. We don’t want to waste taxpayers’ money. That’s precisely why there was under spending – to make sure that the money we spend will be spent prudently and wisely,” he said.

He reiterated that there was under spending in the first half of the year because the present administration has to clear some processes, do some changes and studies to avoid the mistakes of the past administration.

Lacierda also noted that Budget Secretary Florencio Abad assured the senators this week during a budget hearing that the country could expect increased spending in public infrastructure in the next half of the year after the government initiated the reform measures.

Some senators have raised the necessity for an aggressive spending in the first half of the year to boost the local economy which could protect the country from possible fallout from the U.S. economic slowdown following a credit rating downgrade. (PCOO)