Govt’s infra program to bolster agri growth
The government has emphasized the significance of its massive infrastructure program in developing the agriculture sector.
“Investing in infrastructure has the highest multiplier effect on the economy. It creates construction jobs in the short term and manufacturing jobs in the long term,” Finance Secretary Carlos Dominguez III said in a statement.
“It improves land prices, assists in raising our agricultural productivity and encourages dispersal of our industries into the regions,” he added.
He noted that the farm sector is expected to grow along with the rapid expansion of the economy as more investments in modern farm systems, greater access for agricultural produce and more scientific inputs are poured into the sector.
These developments are anticipated to “speed up the liberation of our rural poor from poverty,” according to Dominguez.
The government is banking on its P8.4-trillion “Build, Build, Build” infrastructure program to be the key driver for the country to achieve a 7% economic growth over the next few years, a level higher than the average gross domestic product of the Southeast Asian region.