The government will push state agencies to spend more on various infrastructure projects as part of efforts to pump-prime the economy amid a global financial turmoil, a Cabinet official said.
Socioeconomic Planning Secretary Ralph Recto said that during the first Cabinet meeting of government next year, officials would discuss how to enable agencies to spend more on various infrastructure projects.
“The first Cabinet meeting in 2009 will require infrastructure agencies to increase their absorptive capacity,” Recto said.
The National Economic and Development Authority (NEDA) chief said agencies can do simple infrastructure projects such as farm-to-market roads, repair and rehabilitation of primary and secondary roads and building small hospitals.
Recto said infrastructure projects for 2009 can be those with simple engineering design and no right-of-way issues.
He said budgets for agencies that have difficulty spending should go to other offices that can utilize the funds better.
Another option, he said, is for the key implementing agencies to outsource some of their infrastructure projects.
The government must more than ever continue to invest in much needed infrastructure, simplify government processes to bring down the cost of doing business and push for policy reforms in key sectors in order to put in place a solid foundation for a higher growth trajectory in the future, Recto said.
Recto expressed hopes that Congress passes the P1.415-trillion budget for 2009 as soon as possible so it can utilize the funds in the first two months of next year.
The government has an economic growth projection of 4.1 percent to 4.8 percent for this year and a growth forecast of 3.7 percent and 4.7 percent for 2009.
Recto said these targets can be achieved if the government successfully spends on various infrastructure projects.
In 2007, the Philippine economy grew by 7.2 percent.
The local economy, he said, is facing tough challenges from the weakening of the United States dollar, the hurricane in the US which could both affect income of the country’s exporters and other geopolitical concerns such as the volatility in the oil market. –Iris C. Gonzales, Philippine Star
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
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Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
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