Infrastructure push

programs that have enabled manufacturing to grow at impressive rates since 2013,” he claimed. Infrastructure programs that began during the Aquino administration, meanwhile, are another factor that contributed to the growth spurt, LandBank’s Dumalagan said. He noted that infrastructure growth reached 2.9 percent of GDP at the end of Aquino’s term from an average of about 2.1 percent after the Macros regime.

“The infrastructure spurt was helped by the Aquino administration’s public- private partnership program, which gave rise to roads such as the Cavite- Laguna Expressway and Daang Hari- SLEX ( South Luzon Expressway) Link,” Dumalagan said.

The Duterte administration’s push to raise the ratio to more than 5 percent of GDP, he added, “is expected to further increase the country’s economic potential,” he said.

PNoy ( Aquino) assumed the presidency through the sin tax reform, sustaining tax reform is a sine qua non of improving and expanding infrastructure,” he said. “Inadequate infrastructure is one of the current binding constraints.”

As the 2012 “sin” tax reform helped correct structural problems and removed the protection of vested interests, CTRP’s packages will overhaul the antiquated tax system and make it simpler, efficient, transparent, robust, and progressive, Sta. Ana said.

Asian Development Bank economist Aekopol Chongvilaivan echoed the view, calling CTRP effort a “game changer” as the reform effort is being conducted sans economic pressures such as debt woes.

“The results of CTRP are not only higher and more sustainable tax revenues for financing the much- needed infrastructure and social services, but also making the Philippine economy more competitive and conducive to quality consumption, trade, and investment,” he said.

ANZ Research economist Shashank Mendiratta, meanwhile, pointed to the newly implemented Tax Reform for Ac- infrastructure gap.

“In totality, the policy is one holistic reform,” he said. “At one end of spectrum, Train is business friendly in the sense that the tax reform seeks to make the system