16 Aug Public Infrastructure Spending to Reach P7 Trillion in the Next 6 Years Under Duterte Administration
Administration of President Rodrigo Duterte is going to spend P7 trillion for public infrastructure in the next 6 years starting 2017 until 2022, said the Department of Budget and Management (DBM).
To make up for past infrastructure neglect, generate decent jobs, and shoot the Philippine economy to a higher and tenable growth path are just some of the goals of the higher spending for public infrastructure. This was according to DBM director of Fiscal Planning and Reforms Bureau Rolando Toledo during a forum at the Center for Philippine Futuristics at the Asian Institute of Management last August 12, 2016, Friday.
It was on August 15, 2016 that the DBM was able to submit Duterte administration’s proposed P3.35 trillion national budget for 2017, saying that about 5.3 percent of the GDP in 2017 will be spent for the public infrastructure. That is P860.7 billion which is 13.8% higher than this year’s allocated amount. P355.7 billion of it will be allocated to fix seaport and airport systems, and road networks and railways.
Meanwhile, compared to this year’s P19.5 billion allocation, the Mindanao Logistics Infrastructure Network (MLIN) will be getting P31.5 billion for the next year, 2017. MLIN’s goal is to reduce logistic costs through improving linkage roads in key ports and other areas in Mindanao.
And with the revitalized Public-Private Partnership (PPP), the rolling out of such infrastructure projects would be accelerated, as added by the Budget department.