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NEWS UPDATES Asean Affairs    July 5, 2017  








Infra spending to reach 5.8% of GDP in 2018

Philippine: The government will hike infrastructure spending to 5.8 percent of the gross domestic product (GDP) in 2018, Budget Secretary Benjamin M. Diokno said Monday.

"Ang infra dun, mga 1 trillion [pesos]. Mga, if I'm not , 5.8 [percent]. Ngayon 5.3 [percent]. And then it goes up to about 7.3 [percent] by year 2020," he told reporters on the sidelines of the Philippine Transport Forum in Pasig City.

Last year, Diokno said the government has allocated P8.4 trillion to fund the "golden age of infrastructure" over the next six years, with P860.7 billion allocated to large-scale projects this year alone.

"This is significant because the Philippines has never reached the 5 percent of GDP threshold on infrastructure spending in the last 30 years," Diokno said in a recent column published on BusinessWorld.

"In fact, it only averaged 2.9 percent of GDP during the last administration when the cost of borrowing money was at its rock-bottom," he added.

The Development Budget Coordination Committee (DBCC) has set a 6.5 to 8.5 percent GDP growth this year, and is forecasting the economy to grow by 7 to 8 percent in 2018 to 2022.


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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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