Economic managers are proposing to have work on new infrastructure projects done 24 hours a day all week long to offset the delays in the approval of the 2019 national budget.
According to Socioeconomic Planning Secretary Ernesto M. Pernia, who also heads the National Economic and Development Authority (NEDA), ongoing projects encountered no disruptions but “new projects certainly need to get going fast on a 24/7 work regimen.”
President Duterte has recently signed the P3.8-trillion budget for this year even as he vetoed P95.3 billion in projects that were not included in his administration’s priorities.
Finance Secretary Carlos G. Dominguez III said the Finance agency “fully support the President in his desire to focus national expenditure on projects and activities that redound to the benefit of all Filipinos.”
These priority programs and projects to be funded by the 2019 budget will “stimulate the growth of the economy, providing job and income opportunity for the least advantaged,” said Dominguez.
Neda earlier projected economic growth at about 6.1-6.3 percent, within the downgraded 6-7 percent full-year target and around the same level as last year’s 6.2-percent expansion, if the government operated under a reenacted budget until April.
Source: Philippine Daily Inquirer
Read our previous journal for more real estate news.
