{"id":77735,"date":"2016-06-25T02:48:04","date_gmt":"2016-06-25T06:48:04","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=77735"},"modified":"2016-06-25T02:48:04","modified_gmt":"2016-06-25T06:48:04","slug":"diokno-says-brexit-may-little-no-impact-phl-economy","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2016\/06\/25\/diokno-says-brexit-may-little-no-impact-phl-economy\/","title":{"rendered":"Diokno says Brexit \u2018may have little or no impact\u2019 on PHL economy"},"content":{"rendered":"
\"European<\/a>
European Union (ShutterStock image)<\/figcaption><\/figure>\n

MANILA \u2013 Incoming Budget and Management Secretary Benjamin Diokno said exit of the UK from the 28-country European Union (UN) is expected to have little or no impact on the Philippine economy.<\/p>\n

\u201cUnless, of course, Brexit would lead to the collapse of EU, which I think is remote,\u201d he said.<\/p>\n

On Friday (Manila time), the \u201cleave\u201d votes won over the \u201cremain\u201d votes in the June 23 UK referendum, with a 51.9 to 48.1 ratio.<\/p>\n

Diokno, an economist, a professor at the University of the Philippines School of Economics, and the Budget Secretary from June 1998 to January 2001 under the Estrada administration, said the country\u2019s problems are mostly domestic in nature.<\/p>\n

\u201cMost of our problems \u2013 poor infrastructure, high costs of doing business, sluggish agriculture, widespread poverty \u2013 are domestic in nature. We need to address them regardless of what is happening externally,\u201d he noted.<\/p>\n

Diokno, during the recent dialogue between businessmen and the incoming Duterte Cabinet early this week, said they target to further increase government spending on infrastructure to hike its proportion on domestic output as much as six percent from the current five percent.<\/p>\n

The focus will not only be on big-ticket items but also on small and medium-sized projects, he said, citing that the latter can be implemented without the use of the public-private partnership (PPP) initiative for these to materialize immediately.<\/p>\n

\u201cThere are lots of infrastructure projects for the country that can be done without PPP,\u201d he said.<\/p>\n

\u201cWe will prioritize number one, agriculture (and the) number of infrastructure. We are planning to spend as much as five percent to six percent, for infrastructure. And we’re thinking about Php800 billion to Php1 trillion for infrastructure,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

MANILA \u2013 Incoming Budget and Management Secretary Benjamin Diokno said exit of the UK from the 28-country European Union (UN) …<\/p>\n","protected":false},"author":33,"featured_media":9620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1145,16,95],"tags":[11318,11368,4324],"class_list":["post-77735","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headline","category-news","category-news-ph","tag-brexit","tag-diokno","tag-ph-economy","mauthors-joann-santiago","mauthors-philippines-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/77735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=77735"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/77735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/9620"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=77735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=77735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=77735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}