Govt fast-tracks PPPs as development budget tightens :: Mmegi Online

Government is fast-tracking its 11-year-old Public-Private Partnership (PPP) policy to deliver more projects over and above its standard budgeting cycle, which is currently being squeezed by a COVID-19-related knock on revenues.

Recent documents circulated in the country’s economic circles, estimate that recurrent spending in the upcoming 2021-2022 budget will be P50.7 billion, while development spending will reach P14.8 billion. The figures compare to recurrent spending of P55 billion and development spending of P16.4 billion estimated by the Budget Strategy Paper in October.

The National Development Plan 11 and its addendum, the Economic Recovery and Transformation Plan (ERTP) both have a list of priority projects for the years to 2023 and beyond, but these are expected to experience challenges depending on the duration and severity of the coronavirus' (COVID-19) impact on the economy.

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