Borrow now for infra development while rates are low — Diokno

NOW is the ideal time for the country to focus on infrastructure development while Philippine borrowings carry low interest rates, according to Budget Secretary Benjamin Diokno.

Long-term interest rates on loans contracted by the Philippines carry a 3 to 4 percent interest, Diokno said in a radio interview on Sunday. “Now, it is very ideal to focus on infrastructure,” the Cabinet official noted.