The National Economic Zone and Development Authority or NEDA wants to approve 18 more infrastructure projects in the second half of the year. The government is actually eyeing a total of 36 infrastructure projects by the end of 2017.
Socioeconomic Planning Secretary Ernesto Pernia announced that out of the 75 flagship projects of the government, NEDA has actually approved 18 infrastructure projects and is set to approve another 18 projects before the year ends. Priority will be given to projects that have established their need and readiness, and the NEDA official said that there will be no biad towards a particular financing mode.
Among The 18 NEDAapproved projects are the Bonifacio Global City to Ortigas Centre road link, the new terminal building of the Clark International Airport, The New Cebu International container port, MRT-LRT common station, the Iloilo, Bacolod, Davao, Laguindingan airports and New Bohol airports. Several port and rail projects are also included in these 18 NEDA-approved projects.
The present administration wants to put the next six years as the showcase for its “build buildbuild agenda”. Working towards the implementation of its “Golden Age of Infrastructure” target, the government would need P8.44 trillion or US$168 billion over the next 6 years. This will necessitate an increase in public spending of 7.45 per cent increase over the present 5.32% of GDP by 2022.
