The Philippines' infrastructure spending will reach GDP 5.8% by next year

The Philippine Secretary of Budget and Management Benjamin Diokno said, the Philippine government's infrastructure spending will increase to GDP 5.8% by next year (2018). Today's annual GDP of 5.3% will rise to 7.3% by year 2020.

During the former President Aquino's era, the Philippines' GDP was only 2.9% average, borrowing costs at the lowest point. Last year (2016), the current government appropriated 80 to 400 million pesos to finance the next six years of infrastructure. For large projects allocated 860.7 billion pesos. In the past 30 years. the Philippines has never reached the limit of GDP 5%.

The Development Budget Coordination Committee (DBCC) estimates that GDP grows 6.5% to 8.5% this year and predicts that the Philippine economy will grow by 7% to 8% between 2018 and 2022.