Philippines to spend P1.1T for infrastructure projects in 2021 — Duterte

The Duterte administration has proposed a P1.1-trillion infrastructure spending plan for 2021 as the government seeks to revive the economy crippled by the COVID-19 pandemic.

The spending plan was included in the proposed P4.506-trillion national budget for next year that was submitted to Congress earlier this week for its approval.

“Because of its high multiplier effect on economic growth and output, infrastructure development is indispensable in reviving the Philippine economy during and after the COVID-19 pandemic,” Duterte said in his message to lawmakers.

He said the projects under the Build, Build, Build program are expected to generate around 140,000 to 220,000 additional jobs next year and push the private sector to invest in manufacturing and construction activities.

Next year’s proposed infrastructure budget is equivalent to 5.4% of the country’s gross domestic product (GDP), up from 4.6% (or P976 billion) in 2020.

“Our proposed infrastructure budget consists of shovel-ready projects on enhancing the delivery of health and essential services and improving the transportation and mobility of people and goods amid the pandemic,” Duterte said.

“These projects also aim to facilitate the transformation to a Philippine electronic government (e-government) to help our countrymen cope with the conditions of the post-pandemic environment.”

Duterte expressed confidence that the government is on track in attaining the Philippines’ “Golden Age of Infrastructure” in a bid to secure a “comfortable life and a bright future for all Filipinos by 2040.”

The Philippine economy plunged into a recession this year as strict coronavirus lockdowns shuttered many businesses.

Still, the government expects the economy to grow between 6.5% and 7.5% in 2021. — RSJ, GMA News