THE NATIONAL Economic and Development Authority (NEDA) is targeting to get about PHP 20 trillion in investments for its Public Investment Program (PIP).
“The PIP has 5,329 priority programs and projects with a total investment target of PHP 20.218 trillion for the plan period from 2023 to 2028,” the NEDA said in a document uploaded on its website.
The PIP is aligned with the Philippine Development Plan (PDP) and contains the medium-term priority projects to be implemented by National Government agencies, government-owned and -controlled corporations, other National Government offices, and state universities and colleges (SUCs).
Under the Public Investment Program, the bulk or 85.75% of the investment target will go to infrastructure projects, for a total of 3,770 priority projects worth PHP 17.34 trillion.
“As the Philippine Development Plan 2023-2028 has identified infrastructure as critical to the economic transformation of the country, and consistent with the current administration’s recognition of infrastructure as the ‘backbone of an economy,’ infrastructure has the largest share of investments over the medium term for projects related to transportation, water resources, energy, information and communications technology, and social and other public infrastructure,” the NEDA said.
This year, the government plans to spend 5.3% of the gross domestic product on infrastructure, equivalent to PHP 1.29 trillion.
After infrastructure, agriculture and agribusiness were allotted 391 priority projects worth PHP 806 billion and education with 62 priority PAPs worth PHP 701.05 billion.
By agency, the Department of Public Works and Highways (DPWH) took more than half or 58.56% of the investment share target, equivalent to PHP 11.48 trillion.
It was followed by the Department of Transportation (15.79% or PHP 3.1 trillion), Department of Education (10.46% or PHP 2.05 trillion) and Department of Agriculture (8.15% or PHP 1.6 trillion).
“Infrastructure facilities and services remain inadequate in terms of accessibility, quality, safety and affordability. In line with the government’s thrust in prioritizing infrastructure, the Public Works and Highways and Transportation departments are the top two agencies in terms of total 2023-2028 investment targets,” the NEDA added.
Broken down, the DPWH has 161 priority projects that consist of construction and rehabilitation of roads, expressways and flood control projects.
Meanwhile, the Transportation department’s 197 priority projects include the development and construction of ports, airports and railways.
“Pursuant to the Philippine Constitution stating that education should have the highest budgetary priority, the Department of Education (DepEd) and state universities and colleges have medium-term investment targets amounting to PHP 2.05 trillion and PHP 225.39 billion, respectively,” the NEDA said.
“The DepEd has 17 priority programs and projects, which include the improvement and maintenance of school facilities. With regard to tertiary education, there are 3,123 priority programs and projects by various state universities and colleges,” it added.
The departments of Social Welfare and Development, Labor and Employment, Human Settlements and Urban Development, Agrarian Reform, and the Office of the President also have investment targets worth more than PHP 100 billion.
“The agencies are expected to ensure that the priority programs and projects to be allocated with resources or submitted for inclusion in the National Expenditure Program and/or funded under the General Appropriations Act, are responsive to the PDP and included in the Public Investment Program,” the NEDA said.
“The Department of Budget and Management shall accord priority to programs and projects included in the Public Investment Program in its review of the submitted budget proposals,” it added.
In March, the NEDA Board, chaired by President Ferdinand R. Marcos, Jr., approved 194 flagship infrastructure projects worth PHP 9 trillion. —By Luisa Maria Jacinta C. Jocson