Physical infrastructure is the key to economic growth

INTENSIFIED public spending on major infrastructure projects like highways, roads, bridges, air and seaports, water supply, power and internet grid is key to Philippine economic growth. They efficiently move people, goods and services, facilitate trade and commerce, and strengthen sociopolitical cohesion among the country's 7,641 islands.

The Asian Development Bank projected the country's gross domestic product (GDP) growth at 6.0 percent in 2024 and 6.2 percent in 2025. Much of it will be fueled by consumption spending, overseas Filipino workers remittance, lower inflation and moderate interest rates. With inflation tempered between 3.2 percent and 3.8 percent from as high as 5.98 percent last year, the prospects for more investments and employment opportunities through new businesses are very promising.