A new era of Philippine infrastructurePosted on January 28, 2018 (March 5, 2019) by Years20202019201820172016FuturArc Webinar Series SurveySign up for e-newsletterPassword resetSubscription DetailChange PasswordCategoriesMain FeatureCity ProfileShowcaseCommentaryCommentary / Nov - Dec 2017A new era of Philippine infrastructureby 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, Online Exclusive Feature / 2020COVID, climate and conflict conspire to push up povertyCommentary, Online Exclusive Feature2020COVID, climate and conflict conspire to push up poverty Commentary, Online Exclusive Feature / 2020Architecture as a force for goodCommentary, Online Exclusive Feature2020Architecture as a force for good Commentary, Online Exclusive Feature / 2020COVID-19: Cities in the frontline of response and recoveryCommentary, Online Exclusive Feature2020COVID-19: Cities in the frontline of response and recovery Commentary, Online Exclusive Feature / 2020‘Bold and creative’ solutions needed for a sustainable, post-pandemic economyCommentary, Online Exclusive Feature2020‘Bold and creative’ solutions needed for a sustainable, post-pandemic economy Commentary, Online Exclusive Feature / 2020Principles for recovery: Sustainable and resilient infrastructureCommentary, Online Exclusive Feature2020Principles for recovery: Sustainable and resilient infrastructure Commentary, Online Exclusive Feature / 2020Sustainable developmentCommentary, Online Exclusive Feature2020Sustainable development Commentary, Online Exclusive Feature / 2020Creating robust urban ecosystems in post-COVID-19 IndiaCommentary, Online Exclusive Feature2020Creating robust urban ecosystems in post-COVID-19 India Commentary, Online Exclusive Feature / 2020Part II: Modular Integrated Construction for sustainable futureCommentary, Online Exclusive Feature2020Part II: Modular Integrated Construction for sustainable future Contact us at https://www.futurarc.com/contact-us for older commentaries.