IATF OKs resumption of all key ‘Build, Build, Build’ projects
The implementation of all major infrastructure projects under the national government’s ambitious “Build, Build, Build” program can now resume amid the crisis brought about by the coronavirus disease 2019 (Covid-19) pandemic in the country, Malacañang said on Wednesday.
In a virtual presser aired on state-run PTV-4, Presidential Spokesperson Harry Roque said the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) has already approved the resumption of big-ticket infrastructure projects.
”Lahat ng ating ‘Build, Build, Build’ [infrastructure projects] na major ay binigyan na po ng go signal ng IATF na ipatuloy (The IATF-EID has allowed all major ‘Build, Build, Build’ infrastructure projects to resume),” Roque said.
The list of flagship infrastructure projects that will push through despite the Covid-19 crisis has yet to be released.
Fitch Solutions Country Risk and Industry Research on Monday released its report which projects that the Philippines’ full-year growth in 2020 will be -0.2 percent, down from the 0.5 percent growth forecast in May.
Malacañang on Tuesday expressed confidence that resuming the implementation of the “Build, Build, Build” projects and easing the monetary policy would help the Philippine economy recover faster.
The IATF-EID initially prohibited the implementation of construction and infrastructure projects due to Covid-19 outbreak. It later allowed the resumption of the projects of both public and private sectors despite the implementation of community quarantine nationwide.
During President Rodrigo Duterte’s meeting with his select Cabinet members at Malacañan on Monday night, Finance Secretary Carlo Dominguez III said the government should restart and accelerate the “Build, Build, Build” program to revive the country’s economy.
Dominguez said the accelerated implementation of the “Build, Build, Build” program is the “best driver of economic growth.”
The Duterte government has identified around 100 key infrastructure projects under the “Build, Build, Build” program.
Around PHP1 trillion is expected to be earmarked this year for the implementation of the ambitious infrastructure program of the national government.
Acting Socioeconomic Planning Secretary Karl Kendrick Chua earlier said the plan to spend PHP1 trillion on infrastructure this year is currently being reviewed by the Development Budget Coordination Committee.