The Philippine government will boost infrastructure spending to support economic growth, even as the country faces a lower growth forecast, according to a report from ABS-CBN.
The decision comes as the Philippine economy shows signs of slowing, with recent data indicating weaker-than-expected growth. Infrastructure spending is seen as a key driver to stimulate the economy and create jobs, offsetting external headwinds.
The government's commitment to infrastructure projects under the "Build, Better, More" program remains intact, with allocations for roads, bridges, and railways expected to continue. The higher spending aims to sustain economic momentum and improve long-term competitiveness.