9 Abad, Rowena Acctg 404B 11:30-1:00 Daily D625

11. Amistad, Monica C.

12 Baccong, Jenny B.
14. Baysic, Katrina P.
16. Calicdan, Julie Rose S.
19 Dagsaan, Angelyn B.
33. Guerrero, Zenn Maia S.
35. Jumao-as, Michaela R.
36. Libao, Psalm Chelsea D.
38 Milo, Angel Rose R.
40 Navarro, Rufina Mae H.
43 Penoliar, Gevelyn L.

DUTERTECONOMICS: THE QUEST FOR GOLDEN AGE

Build, build, build is the new mantra of President Duterte’s administration ever since he
presented an P8-trillion ambitious plan to bring our country’s infrastructure to the golden age
with new roads, rails, cities, energy facilities, bridges, and seaports. Through this initiative, the
government seeks to deliver high-impact ways to fast track economic growth across industries
and stimulate regional growth. The program promises the completion of various projects
including the NLEX-Harblor Link, Luzon Spine Expressway, PNR North and South Rails and the
Metro Manila Subway within 5 years. Build, Build, Build program otherwise known as
Duterteconomics will bring about the following:

1. Harmonious relationship of government agencies. For the 1st time in history, Major
Infrastructure Agencies of the National Government (NEDA, DPWH, DOTr, BCDA) are
coordinating because they know what good these projects may bring to the country’s
economy.
2. Jobs for repatriated OFWs. Create Jobs, thus lessening the level of unemployment.
The said program could generate the jobs necessary to absorb overseas Filipino
workers who might be repatriated from the Middle East. Jobs in construction,
engineering and design were expected to be in demand this year.
3. Nationwide jobs. This infrastructure and social projects are necessary to boost
economic activity especially in the provinces, generate jobs, and, ultimately, lift many in
the rural areas from poverty and lessen inequality. For every USD $1 Billion spent on
infrastructure, 200,000 direct jobs are created according to the International Labour
Organization as an estimate for developing countries. Though ambitious, every penny is
worth spending for. The ‘Build, Build, Build’ program will create 1.7 million jobs by 2022
as well as secure our country’s fast-paced growth in the medium term.
4. Rural enterprise development. Road projects, especially in the countryside, can help
spur growth in small and medium enterprises as stated by ADB Director General for
Southeast Asia Ramesh Subramaniam. Further countryside and development is also
planned in cities such as Pampanga and Bataan, which is expected to lead to
diversification and economic growth.
5. Broader international market. Inadequate supply of infrastructure is cited as one of the
main hindrances in doing business in the Philippines. Despite levels of high economic
growth, the country’s mass systems and available transport infrastructure has not
adequately been able to keep up with the growing population. This project will be able to
entice possible investors to invest in the country.
6. Improved flow of goods. The flow of goods within, to, and from the country will be
faster, effective and efficient as a result of this project. Transportation costs will be
lowered and competitiveness increased. More Bridges and Roads to be constructed.
More Railways for faster transport. New and better cities will be developed.
7. Positive domino effect. Eventually, these improvements are exptect to directly impact
the development of other industries, such as manufacturing, agriculture, and mining
 among others. Through improving Philippine infrastructure, the government aso aims to
develop tourism.
8. Reduction of traffic congestion. Urban transport in the country is lacking
tremendously, marred by ineffective planning and management. Said to be a solution to
Traffic and Transportation which had been a big problem in the country most especially
at the NCR. Such as EDSA Traffic where cars slow down to nearly 5 km/h in speed due
to slow moving traffic. Through infrastructure improvement, traffic will be reduced and
will result to decongest Metro Manila to diversify economic development and to give way
for expansion of other provinces. One of the projects, the SANTA MONICA - LAWTON -
BGC LINK BRIDGE “Pwede nang dumiretso ng BGC papuntang Ortigas. Mababawasan
ng 100,000 sasakyan sa EDSA.” Another one of the projects, UP - MIRIAM - ATENEO
VIADUCT, would decrease travel time by approximately 80%. ILOILO-GUIMARAS-
NEGROS-CEBU LINK BRIDGE, would allow buses and cars to travel to said places.
9. Economic gateway. According to the International Monetary Fund, “A sustained
increase in public infrastructure spending to 5% of GDP would add a total of 5-6% to
GDP after 15 years.” Thus making these projects gateways to better economic activities
in the future. According to the Manila Times last September 6, 2015, the Philippines was
already lagging behind other Asian countries in terms of investment due to poor
infrastructures, tracing from governments under spending on such projects. Duterte’s
Administration (as compared to past administrations) is currently spending the most in
terms of infrastructure improvement, spending 5.4% to the GDP of the country. With this
new economic agenda, it will improve the multiplier effect of these expenditures. Any
increase in the expenditure value results to greater increase in the national income. This
means that any increase in expenditures on investment and government spending, will
stimulate more spending in other components, especially on consumption.
10. Countryside Infrastructure. A new 9,450 hectare smart, green, and disaster-resilient
city to help decongest main urban center. There is also a plan to move national
government offices out of Metro Manila, the most viable alternative looking to be Clark
Green City. Urban centers are also being planned in Clark and Subic, which could lead
to 2-3 million people moving out of Metro Manila. DPWH will also implement more road
projects that will open up the countryside and connect more areas to key markets.
11. Climate vulnerability lessened. Given the country’s vulnerability to disasters and
climate change, risk reduction and climate change adaptation strategies in infrastructure
development will be given high priority. Flood Control and Drainage Master Plans for the
18 Major River Basins in the country will be updated and implemented.
12. Research Infrastructures. Infrastructure-related researches will be given utmost priority
to take advantage of the state-of-the-art facilities and breakthrough technologies
available at this age.
13. Improved road network system. The Road Network System will be upgraded to
ensure road efficiency and connectivity. Widening of existing road networks will improve
road capacity and provide environment-friendly infrastructure such as bike lanes and
pedestrian lanes.
14. Airport modernization. To avoid sidelining domestic companies, Duterte has welcomed
unsolicited proposals as well -- another break from Aquino's approach. Alliance Global
Group has pitched a monorail for the capital. Ayala Corp. and SM Investments have
jointly proposed an elevated toll road valued at 25 billion pesos. San Miguel wants to
handle a $2 billion flood control project. And conglomerates including JG Summit
Holdings and LT Group have banded together to offer to expand Manila's airport.
Government has taken over the operation and modernization of five regional airports in
Davao, Bacolod, Iloilo, Laguindingan, and Bohol as well as the improvement of Clark
International Airport, all of which were included in the PPP list during Aquino’s term.
15. Transport “Dream Plan” for Metro Manila. Build, Build, and Build project is in
consistent with AmBisyon 2040 by NEDA, the country’s new long-term vision to become
an upper middle-class country. The Transport “Dream Plan” for Metro Manila, which
 combines infrastructure with better traffic management was proposed by NEDA. The
plan anticipates a significant economic impact on the country with significant reductions
in vehicle operating cost and travel time cost of up to P4 billion a day, toll revenue of up
to P119 billion per year, lower personal transportation costs and travel times, and
environmental benefits. NEDA also expects that the increased infrastructure spending by
the government will benefit the following sectors/industries in terms of effect on gross
value added: (1) construction; (2) household sector; (3) wholesale and retail; (4) food
manufacturers; (5) crude oil, natural gas and condensate; (6) basic metal industries; (7)
petroleum and other fuel products; (8) chemical and chemical products; (9) non-metallic
mineral products; and (10) electricity.
16. Benefit of Increased Government Spending. NEDA expects that the increased
infrastructure spending by the government will benefit the different sectors/industries in
terms of effect on gross value added. Such as (1) construction; (2) household sector; (3)
wholesale and retail; (4) food manufacturers; and others. Perhaps the greatest impact of
an effective infrastructure development program will be on the very real issue of
unemployment. The NEDA estimates that the current administration’s public
infrastructure development programs will generate an average of 1.06 million new jobs
per year, which would certainly have a significant impact on our current unemployment
situation
17. Fast development. The estimated time for the said projects were 3-5 years and for the
whole vision to happen, Duterte plans to finish it within a decade.

The government is steadfast in ushering in the Golden Age of Infrastructure by one simple
strategy – Build, Build, and Build. Philippines gained the place as the 10th fasted growing
economy in Asia as of June 2017 and Duterte’s Administration is optimistic in maintaining and
surpassing this standing. We are beyond the war vs. drugs and finally, undertaking steps to
focus on our economy.