A new era of Philippine infrastructure Posted on January 28, 2018 (March 5, 2019) by Years2021 2020 2019 2018 2017 2016 FuturArc Webinar Series Survey FAQ FuturArc App Demo Video 30-day free access to FuturArc App 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 2021 Greening Asia’s City Streets: Why All Cities Should Prioritise Green Walking Commentary3rd Quarter 2021 Greening Asia’s City Streets: Why All Cities Should Prioritise Green Walking Commentary, Online Exclusive Feature / 2021 Demand for Green buildings in Malaysia—A Snapshot Commentary, Online Exclusive Feature2021 Demand for Green buildings in Malaysia—A Snapshot Commentary, Online Exclusive Feature / 2021 The Future of Offshore Wind in Asia Commentary, Online Exclusive Feature2021 The Future of Offshore Wind in Asia Commentary, Online Exclusive Feature / 2021 Is co-living the answer to urban housing unaffordability crisis in Asia? Commentary, Online Exclusive Feature2021 Is co-living the answer to urban housing unaffordability crisis in Asia? Commentary / 1st Quarter 2021 Water Becomes the New Crude and Other Things Commentary1st Quarter 2021 Water Becomes the New Crude and Other Things Commentary / 1st Quarter 2021 Steering Clear of Catastrophe: Solutions from the Built Environment Commentary1st Quarter 2021 Steering Clear of Catastrophe: Solutions from the Built Environment Contact us at https://www.futurarc.com/contact-us for older commentaries.