The Aquino administration will be spending P3.7 trillion over the next five years to fund priority infrastructure and social projects, according to the National Economic and Development Authority (NEDA).
Rolando G. Tungpalan, NEDA’s deputy director-general for Investment Programming said that initial estimated cost for the country’s Medium Term Philippine Investment Plan for 2011 to 2016 amounted to P4.2 trillion, including the loan assistance to the private sector and small and medium enterprises (SMEs).
Tungpalan, however, said the government will be spending P3.7 trillion for “hard and soft investments.”
The Aquino administration’s MTPIP is higher than the P2.92 trillion for the year 2006 to 2010 of the previous administration.
