The General Government's investment increased 17.3% year-on-year in February 2023, the
Central Reserve Bank (BCR) reported on Sunday.
This growth was attributable to increased execution of projects and activities by the National Government and —to a lesser extent— by regional governments.
The National Government's investment increased 34.8% in February compared to the same month last year.
On the other hand, regional governments' spending on gross capital formation grew 21.4% year-on-year, while a drop was observed (-2.2%) in local governments' spending.
In the first two months of 2023, the General Government's investment rose 14.3%, due to an increase of 42.7% in spending by the National Government.
(END) NDP/MMG/RMB
Published: 3/19/2023