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MANILA, Philippines – Facing massive infrastructure woes that threaten to hamper the Philippine economy’s growth, President Rodrigo Duterte and his economic team unveiled details of an ambitious plan to “Build, build, build” projects worth trillions of pesos until 2022 during the Dutertenomics forum, April 18.
How can citizens measure this?
In line with the National Economic and Development Authority’s (NEDA) Philippine Development Plan (PDP) 2017-2022, PDP’s National Spatial Strategy includes the Three-Year Rolling Infrastructure Plan (TRIP).
With TRIP, medium-term targets highlight details on projects the current administration intends to complete by 2020.
Rappler breaks down the TRIP numbers:
In a 3-year rollout, TRIP includes a total of 4,895 projects worth up to P3.6 trillion – all of which have a target completion year of 2020.
While projects will be completed on a national, inter-regional, and regional level, 1,313 projects worth P157.4 billion are expected to roll out in ARMM, Caraga, Eastern Visayas, Soccsksargen, and Northern Mindanao – 5 regions with the highest poverty rates in the country.
Ernesto M. Pernia, NEDA Director-General and Socioeconomic Planning Secretary, explained in a statement released Tuesday, April 25, that while these numbers break down region-specific projects, these 5 regions can expect to benefit from “inter-regional and nationwide infrastructure that will form efficient network of engines of economic growth all over the country.”
Spend, spend, spend
However, for the government to “build, build, build,” it will need to source the trillions needed for its intended projects.
According to NEDA, funds needed for the 4,895 projects part of TRIP will be sourced from the following:
Out of the 4,895 projects accounted for in the TRIP, funds will come from locally funded projects, official development assistance, public-private partnerships (PPPs), and other modes.
The source of funds needed for 117 projects is still to be determined.
Along with the number of projects listed above, NEDA cited several projects in the pipeline.
Pernia said the long pipeline of projects indicates how serious the Duterte administration is in developing regional growth.
Along with the growth of regional and sub-regional centers, Pernia noted that TRIP projects will help to decongest Metro Manila by “addressing spatial and socioeconomic inequalities by linking lagging regions with leading ones.”
“We want to set the country’s direction of future growth to one that strongly involves the regions and maximize this connectivity of sustainable urban and rural communities,” said Pernia.
With nearly 5,000 projects expected to see completion by 2020, many will be looking at NEDA’s TRIP to enhance job generation, increase household consumption, stimulate business activity, and in the long run, reduce poverty incidence. – Rappler.com