Infra spending through 2017 to boost economy

The Philippine economy is set to receive a major boost from increased infrastructure spending by the incoming government this year until 2017 at least, which should in the long term ease transportation bottlenecks and foster further growth in other industries, the Oxford Business Group (OBG) said in its latest report.

“In the Report: Philippines 2016” released on Friday, OBG Chief Executive Officer (CEO) and Editor-in-Chief Andrew Jeffreys said the Philippine economy has been in a stable uptrend since 2010—growing by an average of 6.2 percent in 2010 to 2014 and 5.8 percent in 2015—despite the dry spell that affected the farm and food-processing sectors.