Economic managers announce growth catch up plan

Manila – Economic managers have agreed to further strengthen coordination with other agencies, especially on acquiring permits and other requirements, to fast-track implementation of infrastructure and socioeconomic programs to meet 2019 growth targets amid the impact of budget delay.

Finance Secretary Carlos Dominguez III, in a statement after the meeting of the Economic Development Cluster at the Department of Finance (DOF) Friday, May 24, said officials of both the Department of Public Works and Highways (DPWH) and the Department of Transportation (DOTr) are optimistic of meeting their disbursement program for this year.

“To enable them to attain their targets, it would require close cooperation and support of other government agencies by expediting the approval of permits and other requirements,” he said, as he expressed hope that “no major weather disturbance will disrupt the implementation of the projects.”

The social protection programs that were agreed to be implemented faster include the national ID System, 4Ps, social pension, unconditional cash transfers, and fuel marking program.

Dominguez said that aside from these programs, the government will also “double its efforts in the agriculture sector, which should expand by at least 2 percent per year.”

He explained that if the 2018 national budget was approved on time, growth in the first quarter of the year would have risen between 6.6 to 7.2 percent instead of the four-year low of 5.6 percent.

President Rodrigo R. Duterte signed this year’s budget only last April after the impasse in Congress.