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THE National Government is optimistic it will be able to meet its infrastructure spending target this year, as part of the catch-up plan to lift fourth-quarter gross domestic product (GDP), a Department of Budget and Management (DBM) official said.
THE GOVERNMENT increased its target spending for infrastructure projects through 2022 to support economic recovery, documents from the Development Budget Coordination Committee (DBCC) showed.
INVESTMENT in “green” infrastructure can help the Philippines bounce back faster and become more resilient after the pandemic, according to a report published by the Climate Bonds Initiative (CBI) and prepared with the Securities and Exchange Commision (SEC) and the Asian Development Bank (ADB).
KUALA LUMPUR — A rise in huge, opaque infrastructure and mining projects threatens to destroy and open up the world’s last remaining rainforests to development, researchers warned on Thursday.
STATE SPENDING on infrastructure plunged by 40% in September — the third straight month of decline — amid budget cuts and delays in construction activities due to ongoing quarantine restrictions.
THE Japanese government has approved ¥3.1 billion (P1.44 billion) worth of technical assistance for four infrastructure projects in the Philippines as it reaffirms its commitment to support the administration’s “Build, Build, Build” program.
THE Mindanao business community wants the government to restart its infrastructure projects in the region as the economy reopens.
Government spending on infrastructure fell 4.3% year-on-year in the first half due to the suspension of construction during the lockdown.
SOME P10 billion worth of funding for tourism infrastructure in the proposed Bayanihan II economic recovery package should be redirected to more urgently needed direct cash aid to tourism businesses via the Department of Tourism (DoT), a legislator said Thursday, ahead of the bicameral conference committee meeting on the bill.
THE Department of Transportation (DoTr) on Tuesday said it will continue to pursue massive infrastructure projects such as airports and railways, even as some economists warned these are at “high risk” of becoming non-viable due to the pandemic.
THE Philippine and Japanese governments signed diplomatic notes to formalize cooperation on two key infrastructure projects, the Department of Foreign Affairs said.
THE government is planning to allocate more funds for infrastructure projects and the healthcare sector under next year’s budget, as the country adapts to a “new normal.”
THE government’s infrastructure program faces further delays due to the quarantines imposed by the coronavirus disease 2019 (COVID-19) outbreak, as well as the repurposing of funds to contain the pandemic, according to Oxford Economics.
THE NATIONAL ECONOMIC AND DEVELOPMENT AUTHORITY (NEDA) Investment Coordination Committee-Cabinet Committee (ICC-CabCom) approved projects on Friday with a total cost of P626.11 billion, officials announced in a press conference after the meeting.
MORE than half of the 100 flagship projects under the government’s infrastructure program is expected to be completed by 2022, while nearly half will be funded through official development assistance (ODA), according to a preliminary copy of the revised list was sent by Albay Rep. Jose Maria Clemente “Joey” S. Salceda to reporters on Friday.
Winning together in the fourth industrial revolution By Adrian Paul B. Conoza,Special Features Writer The growing need to keep in step with the Fourth Industrial Revolution...
MOODY’s Investors Service has further reduced its projection for overall Philippine economic expansion, which disappointed at a four-year-low 5.5% last quarter and clocked in at the same pace in the first half against the government’s 6-7% target for 2019, even as it said “domestic demand” — especially government spending — should pick up this semester.
INFRASTRUCTURE DAMAGE cost from the July 27 earthquakes in Itbayat, Batanes is so far estimated at P292.85 million, according to the Department of Public Works and Highways (DPWH).
YUCHENGCO-LED EEI Corp. has partnered with South Korea’s Hanjin Heavy Industries & Construction Co. Ltd. (HHIC) for potential construction projects in the country.
THE Philippines is closer to securing a single-A credit rating from Japanese Credit Rating (JCR) Agency, after the debt watcher raised its outlook on the country to BBB+ positive from BBB+ stable.
STATE economic managers flew to Washington D.C. last week to showcase the country’s infrastructure developments and economic reforms, in efforts to woo more foreign firms to invest in the Philippines.
A SURGE in state spending, despite delayed enactment of the P3.757-trillion national budget for 2019, fueled the fiscal deficit to grow nearly half in February, the Bureau of the Treasury reported on Friday.
PRESIDENT RODRIGO R. Duterte has rejected the bill creating the Regional Investment and Infrastructure Coordinating Hub of Central Luzon (RICH), citing “substantial fiscal risks” to the economy given its provisions on incentives.
THE GOVERNMENT’s flagship “Build Build Build” infrastructure development program — meant to spur overall economic growth to a sustained faster pace — has suffered delays due to a lack of workers, President Rodrigo R. Duterte himself admitted on Thursday night.
ECONOMIC MANAGERS will discuss in a meeting next month of the Development Budget Coordination Committee (DBCC) ways to mitigate the economic impact of a partially reenacted budget and the public works ban ahead of the May 13, 2019 midterm elections, the chairman of the interagency body said on Wednesday.
THE PHILIPPINES can be expected to close in on the top 10% of the world’s major economies in the next 15 years, partly as improved infrastructure spurs overall economic growth, according to a London-based consultancy.
THE WORLD BANK cut its economic growth forecast for the Philippines as sustained high inflation, lower infrastructure disbursements next semester due to reenactment of the national budget and continued weakness of global trade offset the lift from spending related to the May 13, 2019 mid-term elections.
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THE NEWLY inaugurated Cavite Gateway Terminal (CGT) is expected to reduce road traffic by up to two kilometers of trucks every day, or 140,000 fewer truck trips every year, the Department of Transportation (DoTr) said in a statement on Friday.