Construction slackens in 2013

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THE Philippine Statistics Authority (PSA) recorded a lower number of construction projects last year indicating lower spending by the Aquino administration on infrastructure projects.

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Construction projects last year decreased by 9.1 percent compared to 2012 figures based on data released by the Philippine Statistics Authority (PSA) over the weekend.

Data from the PSA showed that in 2013, a total of 107,765 construction permits were issued, a 9.1-percent decrease from the 121,881 construction permits issued in the previous year.

The decrease in construction permits issued in 2013 confirmed earlier claims of Socioeconomic Planning Secretary Arsenio Balisacan that private construction activities declined last year together with public spending.

The PSA data indicated that the construction permits issued in 2013 were for projects worth P249.8 billion, which is 21.8 percent, or P12 billion lower compare to the P261.8-billion worth of construction activities in 2012.

Meanwhile, construction permits issued in the fourth quarter reached 24,796 for projects worth P53.4 billion, for a 8.9 percent compared to the 27,931 permits covering P67-billion worth of projects.

Balisacan, director general of the National Economic Development Authority, earlier said that despite the decline in construction activities in 2013, he sees a revival in 2014 that would be the growth driver along with reconstruction efforts in areas hit by Super Typhoon Yolanda.

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