Infra spending to hit P2 T by '29

Hitting a fresh high, the national government (NG) is projected to breach the P2-trillion mark in infrastructure spending by 2029, but its share to gross domestic product (GDP) is seen at just 5.2 percent—lower than last year's 5.8 percent and the planned 5.3 percent for 2025.

- BY DERCO ROSAL

ICTSI SUBIC BAY TERMINAL CONCESSION EXTENDED TO 2058 - Subic Bay International Terminals Corp. (SBITC) and ICTSI Subic Inc. (ISI), subsidiaries of International Container Terminal Services, Inc. (ICTSI), have been granted a 25-year extension on their concession agreements with the Subic Bay Metropolitan Authority (SBMA). The extensions, signed on Oct. 3 and running until 2058, cover the operation and management of New Container Terminals 1 and 2 (NCT-1 and NCT-2). In photo (from left): Juan Miguel Delgado, Subic Bay International Terminals vice chairman, and Christian R. Gonzalez, ICTSI executive vice president, signed the concession extensions together with Eduardo Jose L. Aliño, SBMA chairman and administrator, and Honorio Allado III, SBMA director and ports committee chairman. (Story on B3)

According to the Cabinet-level Development Budget Coordination Committee's (DBCC) 2025 Midyear Report, published on Sept. 30, infrastructure spending will reach P2.03 trillion in 2029 and further increase to P2.2 trillion in 2030, both at 5.2 percent of GDP.