A new era of Philippine infrastructurePosted on January 28, 2018 (March 5, 2019) by Years202120202019201820172016FuturArc Webinar Series SurveyFAQFuturArc App Demo VideoCategoriesMain 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.Previously Published Commentary Commentary, Online Exclusive Feature / 2021Consuming content digitallyCommentary, Online Exclusive Feature2021Consuming content digitally Commentary, Online Exclusive Feature / 2021Land use and climate change as drivers of pandemic risk and biodiversity lossCommentary, Online Exclusive Feature2021Land use and climate change as drivers of pandemic risk and biodiversity loss Commentary, Online Exclusive Feature / 2021Seizing the urban opportunity: Invest in low-carbon cities to protect climate and boost jobsCommentary, Online Exclusive Feature2021Seizing the urban opportunity: Invest in low-carbon cities to protect climate and boost jobs Commentary, Online Exclusive Feature / 2021Switching coal plants to biomass cofiring is no magic bulletCommentary, Online Exclusive Feature2021Switching coal plants to biomass cofiring is no magic bullet Commentary, Online Exclusive Feature / 2021Nature left alone offers more than if we exploit itCommentary, Online Exclusive Feature2021Nature left alone offers more than if we exploit it Commentary, Online Exclusive Feature / 2021Fewer desks, more coffee: Possible changes in offices after COVID-19Commentary, Online Exclusive Feature2021Fewer desks, more coffee: Possible changes in offices after COVID-19 Commentary, Online Exclusive Feature / 2021Renewables should be focus of Vietnam’s Draft PDP8, not coal and gasCommentary, Online Exclusive Feature2021Renewables should be focus of Vietnam’s Draft PDP8, not coal and gas Commentary, Online Exclusive Feature / 2021Climate change has not stopped for COVID-19Commentary, Online Exclusive Feature2021Climate change has not stopped for COVID-19 Contact us at https://www.futurarc.com/contact-us for older commentaries.