Philippines to spend more on infrastructure to sustain growth ...Middle East

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Philippines to spend more on infrastructure to sustain growth
MANILA: The Philippines aims to sustain annual spending on infrastructure at 5 to 6 per ccent of the gross domestic product (GDP) in the coming years to catch up with its Southeast Asian neighbours, a Philippine economic official said on Tuesday.The Philippine government is committed to fostering a favorable investment climate within the public infrastructure sector,“ National Economic and Development Authority Secretary Arsenio Balisacan told a forum in Manila, reported Xinhua.“The key to sustaining and accelerating rapid and inclusive growth lies in increasing investment and addressing critical constraints to high-quality job creation,“ he said, adding that high levels of investments are c

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