Gov’t tightens belt, slows down on infra spending

As the prolonged COVID-19 pandemic has slashed available public funds, the National Economic and Development Authority (Neda) Board has ordered agencies to prioritize the most productive infrastructure projects.

The Neda Board chaired by President Duterte approved on March 2 its first 2022 resolution “prioritizing the use of limited government resources toward economic recovery.”

In particular, the board’s vice chair and Neda Secretary Karl Kendrick Chua was ordered to review, endorse and approve “well-prepared” infrastructure projects.

The Neda Board defined well-prepared public investment programs and projects as those that had “complete submissions” and were “fully compliant with existing rules and regulations” of implementing agencies.

Also, the Neda Board’s priority projects must meet the following criteria: they should create a high number of meaningful jobs; contribute to human capital development in education and health; as well as contribute to infrastructure development in both high-growth areas and the country’s lagging regions.

The government will also prioritize projects and programs forming part of its approved master plans or national and regional investment plans, the board added. INQ