MANILA – The Department of Budget and Management said Monday it will spend P846 billion on infrastructure this year, nearly 14 percent higher than last year’s budget.
This year’s budget, which represents a quarter of the P3.35 trillion national budget, will focus on the construction of new highways, roads and bridges, as well as the establishment of bus transport and rail systems across the nation, the budget department said.
Reforms are being instituted to speed up the launch of public-private partnership (PPP) projects, but investors are also welcome to propose projects outside the PPP pipeline, it added.
“The bold reforms, the pipeline of projects, the hardworking and assertive administration, and the participative citizenry – these will make the dream of making the next six years the Golden Age of Infrastructure achievable,” said Budget Secretary Benjamin Diokno.
The economic team presented 40 infrastructure projects to China last week for loan-financing and feasibility studies assistance, Diokno said.
The two-day mission will be followed by another set of meetings in Manila in February next month, he added.
30 January 2017
