by: DBM ACTS

Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman emphasized the government’s commitment to improve mobility and interconnectivity during the first international Philippine Economic Briefing (PEB) of the Marcos Jr. administration, hosted by the Department of Finance (DOF) and Bangko Sentral ng Pilipinas (BSP) in Singapore on September 7.

The Budget Chief said that this shall be done by maintaining high investments in infrastructure at 5.0 to 6.0 percent of GDP annually, consistent with the economic team’s Medium-Term Fiscal Framework (MTFF). 

"We will slowly increase our spending on infrastructure from 5.5 percent this year to 6.2 percent in 2028," the Budget Chief stated. 

The infrastructure spending target shall be achieved through the implementation of the Build, Better, More Program which will receive a total of P1.2 trillion (5.0 percent of GDP) under the FY 2023 proposed budget.

Nonetheless, Secretary Pangandaman emphasized that the national government shall balance the need for infrastructure programs such as road projects, railways, and other transport systems with social infrastructures: “Of course, we shall also include social infrastructure including basic education facilities like school buildings, as well as health clinics and facilities.”

Finally, the Budget Chief highlighted the importance of having a sustainable economy through digitalization: “We will put enough funding on digitalization for transparency, reduced cost of doing business, and to make our processes more efficient and effective.”

Under the FY 2023 proposed national budget, some P12.47 billion is allocated for various ICT projects throughout the bureaucracy. The national government will also implement a 100-day Roadmap on Digitalization—a first for the Philippines—which aims to diminish human discretion, and consequently eradicate corruption.