DBM Sec. Rolando Andaya, Jr.

Davao — The Department of Budget and Management (DBM) said the full blast development of the super-regions outlined by President Gloria Macapagal-Arroyo in her sixth State of the Nation Address (SONA),will require about P372-billion, the total amount needed to finance all projects, including the development of roads, airports, seaports, irrigation facilities, railways and other vital projects.

During the 15th Cabinet and National Economic Development Authority (NEDA) meeting in Malacañang, Budget Secretary Rolando Andaya Jr. said the national government would be shouldering 50% or P186.27-billion of the P372-billion needed to finance all the projects under the super regions.

The private sector financing is pegged at P68.4-billion or 18.39%; government owned and controlled corporations at P116-billion or 31.18%; and the local government units at P1.33-billion or 0.36%.

In a speech delivered by Pres. Gloria Macapagal-Arroyo in the province of Pangasinan, she told the people there that her administration continues promoting agri-business and commerce more aggressively through more infrastructure projects that would further improve the economic condition of the province and the entire Region 1.

She was in Pangasinan to spearhead the laying of the time capsule containing the details of one of the urgent infrastructure projects of her administration.

She said the government is also allocating P500 million for farm-to-market roads all over the country every month, P200 million for the North Luzon Agri-Business quadrangle, P200 million for the Mindanao super-region, P50 million for the farmers in the Metro Luzon Urban Beltway and P50 million for Central Philippines.

“Our reforms are taking root and our growth is irreversible and your government is underway to further improve our country’s economy,” the President said. (Rose B. Palacio/PIA XI)

Back to HOME	Last Updated: September 8, 2006