'INFRA SPENDING WILL SPUR ECONOMIC GROWTH' - SEN. ANGARA

Senator Edgardo Angara stressed that the government's plan to construct infrastructure and community-development related projects is a "smart investment" which can steer the country's economy to greater heights.

Angara issued the statement following the National Economic and Development Authority's announcement that it has approved five infrastructure and community development-related projects, including two in the government's priority public-private partnership (PPP) list.

The infrastructure projects include the P35.5-billion Cavite-Laguna expressway (Cala-Ex) that is envisioned to be a four-lane, 47.02-kilometer road connector, as well as a P25.56-billion proposal to construct an elevated expressway over the Philippine National Railway (PNR) from Caloocan to Buendia in Makati, to connect the North and South Luzon expressways.

"The government has to focus its spending on infrastructure projects particularly transportation networks as it is essential to spurring growth throughout an archipelago like the Philippines. We are a fragmented geography across an area of 300,000 square kilometers. Transportation networks and systems are therefore vital to the mobility of our people and the goods and products we trade," Angara said.

The veteran lawmaker stressed that investing in critical infrastructure would also give a huge boost to tourism as well as contribute to the growth of the domestic economy.

"Improving our transportation network will encourage commerce and trade between the different islands, which is severely limited now. We are still very Manila-centric in terms of trade because of the lack in transportation infrastructure," he added.

Moroever, Angara emphasized that a better transportation would ensure food security, and help stabilize prices, by promoting a better distribution system for both fresh and processed goods from the provinces.

"We must avoid the same mistake of under-spending on such vital initiatives. Being overly cautious will stifle our economic growth. We must build on the momentum of robust first quarter growth through aggressive but smart spending," he concluded.