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MANILA - Government spending, which expanded by 0.7 percent year-on-year last July, is expected to post faster growth in the coming months and boost economic recovery. Citing Bureau of the Treasury (BTr) data, the September 2021 issue of Market Call attributed the minute growth in government spending last July to government agencies' focus on finalizing their proposed 2022 budget with the Department of Budget and Management (DBM). "We expect NG (national government) spending to significantly pick up pace in the coming months with the Presidential elections in May 2022 only some nine months away," said Market Call, the joint publication of First Metro Investment Corporation (FMIC) and University of Asia and the Pacific (UA&P). BTr data show that state expenditures posted faster growth of 34.20 percent year-on-year last August, while it jumped by 10.94 percent year-on-year in the first eight months this year. As of end-August this year, government expenditures reached P

Metro manilaPhilippines generalFirst metro investment corporationUniversity of asiaBureau of the treasury btrDepartment of budgetMarket callManila government spendingHich expanded by 0 7 percent year on last julyS expected to post faster growth in the coming months and boost economic recovery citing bureau of treasury btr dataHe september 2021 issue of market call attributed the minute growth in government spending last july to agencies 39 focus on finalizing their proposed 2022 budget with department and management dbm quot we expect ng national significantly pick up pace coming months presidential elections may only some nine awayUot said market callHe joint publication of first metro investment corporation fmic and university asia the pacific ua ampp btr data show that state expenditures posted faster growth 34 20 percent year on last augustHile it jumped by 10 94 percent year on in the first eight months this as of end augustOvernment expenditures reached php2 963 trillion while total revenues amounted to 005 this brought the budget gap php958 2 billion9 36 percent higher than the php740 7 billion in same period 2020 quot ng spending should go full throttle starting august as economy needs stimulus especially from infrastructure