- The national government is keen on spending P900B on infrastructure projects
- This will jack up infrastructure spending to as much as 7 percent by the year 2022
- If realized, this will lead the country to the “golden age of infrastructure”
The “golden age of infrastructure” for the country is underway.
This was disclosed by Budget Secretary Benjamin E. Diokno as he stated that the Duterte administration intends to jack up infrastructure spending to as much as 7 percent of the economy by the year 2022; an article written by Ben O. de Vera on Philippine Daily Inquirer mentioned.
In stating this, Diokno noted that despite the planned spending boost, it might take years before the infrastructure gap in the country will be totally addressed.
As such, Diokno said more “hybrid” public-private partnership (PPP) projects will be needed to speed up infrastructure development.
The government, he noted would spend close to P900 billion on hard public infrastructure to cover the years of “neglect.”
Simultaneous rolling out of small, medium and large projects in all regions is likewise planned.
Earlier, the budget chief disclosed that the Duterte administration will implement non-stop or 24-hours-a-day, seven-days-a-week construction work mostly on urban-based projects to facilitate faster infrastructure buildup.
Infrastructure spending will increase to about seven percent by the end of the Duterte administration from a share of 5.2 percent of the gross domestic product (GDP) next year, Diokno added.
In addition to this, construction of more airports and three to four more railway lines in Metro Manila are being considered.
However, the Duterte administration will have to decide on the site to where a new air transport hub will be built — whether Sangley Point in Cavite or Clark in Pampanga — within the year.
No less than President Duterte made a proposal for the construction of a highway connecting Clark and Makati City.
Diokno revealed that the government will continue to tap private sector participation in the infrastructure buildup through PPP, preferably “hybrid” projects.
Under the hybrid PPP setup which the budget secretary is proposing, the government will construct the facility and later on seek the assistance of a private firm for maintenance.