Philippines to fast-track implementation of infrastructure projects in Q1

The Philippine government will accelerate the implementation of infrastructure projects during the first quarter of this year before the election ban starts, a senior government official said Monday.

Department of Budget and Management Secretary Florencio Abad said the Department of Public Works and Highways (DPWH) in particular is targeting an obligation rate of 50 percent within the first three months of the year.

"We can expect 50 percent of infrastructure projects under the DPWH to be issued notices of award by the first quarter of 2016. This amounts to almost 187.86 billion pesos (3.99 billion U.S. dollars), and is higher than their actual obligation rate within the same period last year," he said.

With the holding of elections in May this year, the government could not implement projects starting March 25 as part of an election ban.

Abad said the government is poised to complete key infrastructure projects this year, including 98 percent of 364,693 lineal meters of bridges and 85 percent of 32,526.50 kilometers of roads.

The Philippines has increased total infrastructure spending in the last five years, from 175.4 billion pesos (3.72 billion U.S. dollars) in 2011 or 1.8 percent of the country's gross domestic product (GDP) to 766.5 billion pesos (16.27 billion U.S. dollars) this year to achieve the international benchmark of 5 percent of the GDP. Endit