Manila, April 3 -- Infrastructure spending rose by 8.9 percent to PHP1.545 trillion in 2024 from PHP1.419 trillion outturn in 2023, the Department of Budget and Management (DBM) said Wednesday.

According to the DBM's latest data, the overall infrastructure disbursements in 2024 exceeded the 2024 disbursement program by PHP72.4 billion or 4.9 percent.

Equivalent to 5.8 percent of the gross domestic product (GDP), the 2024 infrastructure spending was well within the government's target of 5 to 6 percent for the year under the Medium-Term Fiscal Framework.

The latest figure also sustained the 5.8 percent outturn in 2023.

"The spending performance surpassed expectations due to the accelerated implementation of construction activities of t...