Industry: Economy to grow by 8% yearly if all PPP projects are implemented -DOF

The Department of Finance (DOF) official said the Philippine economy will grow by an average of 8 percent annually over the next six years if all public-private partnership (PPP) projects will be fully implemented.

This year, the government expects the economy to grow by 7 to 8 percent from the 6.1 percent expansion last year.

As of today, nine out of the 50 PPP projects in the lineup have already been awarded. The government expects 14 other projects to reach the awarding stage soon.

According to DOF Undersecretary Gil Beltran, there will be an additional 2 percent growth to our GDP every year if all PPP projects are fully implemented. 

He said that the more than 50 projects lined up under the PPP scheme represent 10 percent to 12 percent share of the country’s GDP.

“There’s a lot of projects to be bid out that will provide us growth of additional 2 percent in the next six years,” he said.

He also noted that with the 6 percent average growth of the Philippines per year, plus the additional 2 percent share of the completed PPP projects, the country could achieve 8 percent average growth for the next six years. 

“The next administration can have that growth if they implement the 50 projects in the pipeline. The pipeline is long and developing,” he said.