Govt earmarked $11.6 bn from 2016 budget for PAC infrastructure program

According to the 2016 budget proposal submitted to Congress Monday (Aug. 31), infrastructure projects of the Accelerated Growth Program (PAC) will be allocated $11.6 billion next year. The amount earmarked for these investments is still significant and projects in progress were given priority, according to a statement from the Ministry of Planning released yesterday (31).

Out of the total PAC projects underway, $31.3 billion was used in the period January–June 2015, accounting for 11% of the $287.9 billion investments planned for 2015–2018. The projects completed during this period totaled $20.8 billion.

In addition, $5.3 billion had been committed as of August 15. The amount is equivalent to 55.4% of the total $9.6 billion available for PAC projects this year.

Also according to the statement, the infrastructure projects comprising the PAC program have now been grouped into three major areas: logistics, energy, and social and urban infrastructure. Work completed in the infrastructure and logistics group—comprising roads, railways, ports, airports and waterways—amounted to $820 million. Some $7.13 billion went into energy infrastructure, and social and urban infrastructure totaled $12.8 billion.

Translated by Mayra Borges