Aquino: Infra spending boosts PHL economic growth

President Benigno Aquino III (Malacanang Photo Bureau)

MANILA — President Benigno S. Aquino III on Friday said the government is further increasing spending on infrastructure across the country to Php562.3 billion this year in a bid to significantly boost economic growth and job creation.

During his visit to Romblon province, President Aquino said the country allotted Php442.3 billion for various infrastructure projects last year from just Php175.4 billion in 2011.

“Panatag po ang loob nating magbuhos ng pondo para sa imprastruktura dahil alam nating bukal ito ng paglago ng ekonomiya. Kapag mas maayos ang kalsada, mas mabilis ang takbo ng mga produkto at serbisyo patungo sa merkado; mas lalago ang negosyo, na siya namang lumilikha ng trabaho, at nagbubukal ng malawakang kaunlaran (We can confidently allocate funds for infrastructure because we know this will help the growth of our economy. When there are good roads, products and services can get to the market faster, businesses will prosper, which will then produce more employment opportunities, and all this will lead to widespread growth),” he said.

The President stressed that the government is considering the welfare of the majority of Filipinos in the implementation of infrastructure projects.

“Estratehikong pagkilos ito ng gobyerno upang ihatid ang benepisyo sa mas nangangailangan, at mabigyan sila ng kakayahang makiambag sa kaunlaran. Mahalaga po dito ang maayos na ugnayan ng lokal at pambansang gobyerno (This is a strategic move by the government in order to provide benefits to those in need, so they can have the opportunity to contribute to progress. Proper interaction between the local and national government is important),” he said.

The Chief Executive particularly cited the Romblon-Sawang-Agpanabat provincial road, the Sibuyan Circumferential Road, portions of San Jose Circumferential Road, road connecting Sta. Fe-Guinbirayan Provincial Road and the Romblon-Cogon-Sablayan Road.

“Ang mga proyektong ating nabanggit ay bahagi lamang ng malawakan nating estratehiya na paunlarin ang sektor ng imprastraktura (The projects that we mentioned are just parts of a wider strategy to improve the infrastructure sector),” he added.

Further, President Aquino said his administration’s good governance has resulted in sustained economic growth and 21 positive credit rating actions the Philippines received from different agencies around the world.

“Benepisyo nito: Tayo po’y nag-o-operate deficit pero nakakahiram na tayo nang mas mura dahil nga ho tumaas ang ating credit rating at bumaba ang ating risko; mas naeengganyo ang mga negosyanteng magpasok ng puhunan sa bansa, na nanganganak ng trabaho sa maraming Pilipino (The benefits: We can still borrow funds despite operating on deficit because our credit rating is improving; businesses will be encouraged to invest in the country, which will then produce more jobs for more Filipinos),” he said.

“Sa walang patid na paglago naman ng ating GDP (gross domestic product), nabibigyan tayo ng kakayahang maghatid ng agarang benepisyo sa ating mga kababayan (With the continuous growth of our GDP, we are given the capacity to provide immediate benefits to our people),” the President added.