A new era of Philippine infrastructure Posted on January 28, 2018 (March 5, 2019) by Years2020 2019 2018 2017 2016 CategoriesMain Feature City Profile Showcase Commentary Commentary / Nov - Dec 2017 A new era of Philippine infrastructure by Harry Joseph F. Serrano The promise of Philippine President Rodrigo Duterte to usher the country into a development boom has come. Ominously called BUILD BUILD BUILD, it is a battle cry powered by angst and exasperation born from decades-long infrastructure backlog suffered by the Filipinos.The government presents a three-point financing strategy to pay for this venture. First is to have a planned deficit increase from 2 to 3 per cent during the Duterte administration. Second is to get 80 per cent local funding while the remaining 20 per cent can be sourced from external lenders. Third is the most critical because it is designed to promote competitiveness that fuels growth. The government will implement the Comprehensive Tax ReformPackage (CTRP), making it more efficient and in turn attractive for investors.According to Philippines’ Department of Budget and Management Secretary Benjamin Diokno, the country will spend an unprecedented USD18.8 billion for infrastructure in 2017. In the past three decades, the country has never reached the 5 per cent to GDP threshold for infrastructure spending. This year, it passed the 5.3 per cent mark. Prior to this, the Marcos government allocated an average of 3.2 per cent (Philippine Institute of Development Studies, 2017). Infrastructure spending will reach as high as 7.4 per cent to GDP by 2022. To read the complete article, get your hardcopy at our online shop/newsstands/major bookstores; subscribe to FuturArc or download the FuturArc App to read the issues for free! Previously Published Commentary Commentary / 1st Quarter 2020 Carbon Farming and Climate Change Education on Urban Farms Commentary1st Quarter 2020 Carbon Farming and Climate Change Education on Urban Farms Commentary / 4th Quarter 2019 Benchmarking the Benchmark: Reflections on the 10th Anniversary of Malaysia’s Green Building Index Commentary4th Quarter 2019 Benchmarking the Benchmark: Reflections on the 10th Anniversary of Malaysia’s Green Building Index Commentary / 3rd Quarter 2019 Putting Wellness at the Heart of Building Design Commentary3rd Quarter 2019 Putting Wellness at the Heart of Building Design Commentary / 1st Quarter 2019 Rural-Urban Dichotomy: Dhaka Commentary1st Quarter 2019 Rural-Urban Dichotomy: Dhaka Commentary / 1st Quarter 2019 China & India Commentary1st Quarter 2019 China & India Commentary / 1st Quarter 2019 The Digital Bridge Commentary1st Quarter 2019 The Digital Bridge Commentary / Sep - Oct 2018 Functionality, quality, quantity: an overview of public housing in Hong Kong CommentarySep - Oct 2018 Functionality, quality, quantity: an overview of public housing in Hong Kong Commentary / Sep - Oct 2018 Private vs state housing: a review from Hanoi CommentarySep - Oct 2018 Private vs state housing: a review from Hanoi Contact us at http://www.futurarc.com/contact-us for older commentaries.