A new era of Philippine infrastructure Posted on January 28, 2018 (March 5, 2019) by Years2022 2021 2020 2019 2018 2017 2016 FAQ 30-day free access to FuturArc App FuturArc Special Offer FuturArc Exchange & Exhibitions Highlights Complete the Puzzle & Win Magazines! Register Interest | FuturArc Prize 2023 CategoriesMain Feature City Profile Showcase Commentary Commentary / Nov - Dec 2017 A new era of Philippine infrastructure by Harry Joseph F. Serrano January 28, 2018 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. Previously Published Commentary Commentary / 3rd Quarter 2022And Now the Real World Commentary3rd Quarter 2022And Now the Real World Commentary, Online Exclusive Feature / 2022Can we cool buildings without overheating the planet? Commentary, Online Exclusive Feature2022Can we cool buildings without overheating the planet? Contact us at https://www.futurarc.com/contact-us for older commentaries.