Marcos: Infra spending stays at 5-6% of GDP

The Marcos administration will continue to focus on infrastructure development as it aims to earmark a significant amount of spending relative to the economy.

"Our infrastructure spending will stay at 5 to 6% of our GDP (gross domestic product)," President Ferdinand Marcos Jr. said in his second State of the Nation Address (SONA) on Monday.

In his first SONA, Marcos said the government would allot five to six percent of the country's gross domestic product (GDP) for infrastructure projects.

The Department of Budget and Management (DBM) allotted 5% to 6% of annual GDP to the "Build Better More" program.

"The underlying logic to our infrastructure development is economic efficiency. We are opening up all gateways to mobilize goods and services at less cost and in less time, and ultimately, to drive the economy forward," the President said.

"One of the keys to continuing economic growth is infrastructure development. So, we will build better, and more. Our P8.3-trillion ‘Build Better More’ Program is currently in progress and being vigorously implemented," Marcos said.

The chief executive said the entire country will benefit from the 194 flagship infrastructure projects.

"Hindi lamang natin ipinagpapatuloy ang mga nasimulan ng mga proyekto. Lalo pa nating pinapalawak. Kaya naman, ang isangdaan at dalawampu't tatlong proyekto dito sa Build-Better-More program ay bago," he said.

"The flagship projects cover investments in the areas of physical connectivity, water resources, agriculture, health, digital connectivity, and energy. Physical connectivity infrastructure—such as roads, bridges, seaports, airports, and mass transport—accounts for 83 percent of this program," he added.

Marcos cited the 1,200-kilometer Luzon Spine Expressway Network Program as among the key projects of the administration.

The project is expected to connect Ilocos to Bicol "from 20 hours to just nine hours of travel," the President said.

The chief executive also mentioned the "Mega-Bridge Program," comprising 12 bridges totaling 90 kilometers that will connect islands and areas separated by water.

"The program notably includes the Bataan-Cavite Interlink Bridge and the Panay-Guimaras-Negros Island Bridges, each spanning 32 kilometers, and also the Samal Island-Davao City Connector Bridge," Marcos said.

As of June this year, the government had constructed, maintained, and upgraded more than 4,000 kilometers of roads and around 500 bridges across the country, according to the President.

"Crucial airport and port development projects across the country have also been completed, including Cebu’s Pier 88 smart port and the new passenger terminal buildings of Clark Airport and the Port of Calapan," he said.

"We initiated several railway projects, with a total length of more than 1,000 kilometers. Notably, the southern leg of the North-South Commuter Railway System is now in full swing. In a few years, travel from Pampanga to Laguna will be reduced from four hours to just two," he added.  — VBL, GMA Integrated News