By: Elena Grace Flores
It is good to know that the Duterte administration learned from the past mistake of its predecessor, outgoing President Benigno Aquino III. As the incoming team of Duterte is working towards implementing changes in boosting infra-structure, investment framework improvements and maintaining the country’s economic growth as one of the fastest growing economy in Asia, they are very keen in making sure that they do not underspend and all expenses are closely monitored.
As published in the Daily Tribune: “We want to make sure we will not underspend. We will not put into the budget items that could not be implemented,” Diokno said. “Farm to market roads, small water impounding facilities, school building will be built simultaneously, nationwide,” he added. Asked on the government’s absorptive capacity, Diokno said the Duterte administration “will make sure departments will not ask for a budget that is more than what they can implement.” “We need to come up with a strong monitoring team that will see to it that each department is on the dot,” he said.
These plans are laid out over leaders in the business sector nationwide during their recent business meeting with the President in Davao city. Aside from this general economic statement the VAT increase from 12 to 14% and solving traffic woes through the president’s emergency power were also discussed.