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Financing Infrastructure in the Philippines: Fiscal Landscape and Resources Mobilization

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  • Llanto, Gilberto M.
  • Navarro, Adoracion M.

Abstract

This study assesses the sources and levels of infrastructure financing in the Philippines for the last five years (2008-2012). The mapping of fiscal resources showed that there had been underinvestment in infrastructure. To illustrate, in 2008-2012, public infrastructure spending as a share of GDP ranged between a low of 1.40 percent to a high of 2.09 percent--a far cry from the target 5 percent of GDP over the medium term. The result of many years of infrastructure underinvestment is woefully manifested in the Philippines` place in quality-of-infrastructure ranking among ASEAN member-states; it is currently second to the bottom.Recently, there had been significant improvements in the government`s fiscal position that augur well for more substantial infrastructure spending in the future. New regional sources of financing, the liquid domestic capital market, and a low interest-rate environment also present opportunities for investing in infrastructure by both the government and the private sector. However, it is not only the constrained availability of financial resources that could restrain infrastructure investments but also institutional weaknesses and, therefore, the government must firmly commit to reform policies and strengthen institutions.

Suggested Citation

  • Llanto, Gilberto M. & Navarro, Adoracion M., 2014. "Financing Infrastructure in the Philippines: Fiscal Landscape and Resources Mobilization," Discussion Papers DP 2014-01, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2014-01
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    Cited by:

    1. Navarro, Adoracion M., 2015. "Philippine Priorities in Expanding APEC-Wide Connectivity through Infrastructure Development," Discussion Papers DP 2015-15, Philippine Institute for Development Studies.
    2. Patalinghug, Epictetus, 2015. "Supply Chain Connectivity: Enhancing Participation in the Global Supply Chain," Discussion Papers DP 2015-14, Philippine Institute for Development Studies.
    3. International Monetary Fund, 2015. "Philippines: Selected Issues," IMF Staff Country Reports 2015/247, International Monetary Fund.
    4. Horbulyk, Ted & Price, Joseph P. G., 2018. "Pricing reforms for sustainable water use and management in the Philippines," IWMI Working Papers H048609, International Water Management Institute.
    5. Gilberto M. Llanto, 2016. "Philippine Infrastructure and Connectivity: Challenges and Reforms," Asian Economic Policy Review, Japan Center for Economic Research, vol. 11(2), pages 243-261, July.

    More about this item

    Keywords

    public-private partnership (PPP); infrastructure; Philippines; ASEAN connectivity; fiscal landscape;
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