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Gov’t to spend P860.7B for infra in 2017 – DOF

The government has boosted infrastructure spending to P860.7 billion for large-scale infrastructure projects in 2017 in line with the "golden age of infrastructure" eyed by the administration, the finance department said over the weekend.

According to Finance Undersecretary Antonette Tionko, the administration's budget for infrastructure in 2017 was increased from the P756.4 billion to improve public infrastructure.

Of the total, Tionko said the Investment Coordinating Committee (ICC) has earmarked P355.7 billion to improve and build road networks, flood control systems, seaports, airports, school buildings, hospitals and health centers, and irrigation systems.

"The projects to be conceptualized from this initiative would then be considered for inclusion in the Philippine Development Plan for 2017 to 2022, which is now being consolidated by the National Economic and Development Authority (NEDA)," she was quoted as saying during the General Membership Meeting of the Davao Chamber of Commerce and Industry Inc. (DCCI).

To recall, Budget and Management Secretary Benjamin M. Diokno in September said the Duterte administration has allocated a total of P8.2 trillion to fund the "golden age of infrastructure" of the Philippines over the next six years.

The inter-agency Development Budget Coordinating Committee (DBCC) also earlier said it plans to boost infrastructure spending to 5.2 percent of the country's gross domestic product (GDP), with the development works fast-tracked under a pace of 24 hours a day, seven days a week. — Jon Viktor D. Cabuenas/BM, GMA News