DOF: PH “most ready” for infra buildup in ASEAN

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PH most ready for infra buildup, says DOF

September 2017 — Finance undersecretary and chief economist Gil Beltran cited the UN Economic and Social Commission for Asia and the Pacific or UNESCAP’s reasons as to why the Philippines in ASEAN, is most prepared for an upgrade in terms of infrastructure.  

According to the largest UN body serving the Asia Pacific, UNESCAP lists three major factors for the country’s status:

  1. Substantial financing opportunities from the country’s developing partners

  2. Government’s tax reform program and rising revenue collections

  3. Declining debt service ratio

To add to this, there’s also the PPP or the Public-Private Partnership. This law specifically arranges an institution and a set of rules to make sure these projects are organized. To add to that, PPP also sets up a private sector that will “aggressively” participate in the completion of said projects.  

These factors, said Beltran, reaches the right amount of monetary freedom to pursue an expansionary policy on the current administration. DOF also stated that the country has a strong financial system which is abundant with excess liquidity. It is also sustained by good supervision and rising savings rates.

The Duterte Administration has set over $170 billion in infrastructure spending, where $23 billion will be spent for next year.

 
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