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By Darwin G. Amojelar, Reporter
Government will spend about P2.03 trillion on
infrastructure projects up to the end of President Gloria Arroyo’s
term to pump prime the economy, the National Economic and
Development Authority (NEDA) said.
Under the government’s updated Comprehensive
and Integrated Infrastructure Program for 2007 to 2010, the
transportation sector is to take the major chunk with P753.24
billion for 521 projects, followed by power with P527.05 billion for
206 projects, and water with P425.66 billion for 270 projects.
The program contains the priority infrastructure
projects of the Arroyo administration.
The rest of the allocation is for social
infrastructure with P203.97 billion for 150 projects, communications
with P63.07 billion for 30 projects, lending programs with P27.73
billion for 27 projects, and support for agrarian-reform communities
with P25.47 billion for 24 projects.
NEDA said the program will be financed by the
national government amounting to around P1.09-trillion worth of
projects. Of the total, P261.17 billion will come from local
financing and P830.17 billion, official development assistance (ODA).
The private sector will finance some P641.83
billion, from government-owned and controlled corporations, P115.4
billion; from government financial institutions, P26.95 billion;
from local government units, P22.76 billion; and from other sources,
P128.18 billion.
By super region, the government will be spending
P826.50 billion for 283 projects in the Luzon Urban Beltway,
followed by Central Philippines, P412.39 billion for 361 projects,
and the North Luzon Agribusiness Quadrangle, P368.82 billion for 207
projects.
For agribusiness Mindanao, the government is
allotting P325.91 billion for 316 projects, while the Cyber Corridor
has 30 projects amounting to P63.07 billion.
The updated government’s infrastructure
program has yet to be presented to President Arroyo and the NEDA
Board for confirmation and approval.
Earlier, acting socioeconomic planning Secretary
Augusto Santos said, “The government really needs to pump prime
the economy to head off the possible adverse effect of the US
economy slump.”
This year, the government is targeting a 6.3
percent to 7 percent, lower from the Medium Term Philippine
Development Plan 2004 to 2010 of 6.8 percent to 7.8 percent
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