'Private spending, soft infra to sustain growth momentum'

The recent slowdown in the government's infrastructure spending is unlikely to drag down the country's gross domestic product target, as catch-up measures including post-election spending and soft infrastructure are expected to sustain momentum, the Department of Budget and Management (DBM) said.

- MARCO LUIS BEECH

Retaining an optimistic view in reaching the expansionary targets, DBM Undersecretary Joselito Basilio said that increased private consumption, driven by lower interest rates along with the agriculture sector, are considered as drivers for growth in the third quarter of this year.

"Even if flood control projects are reduced, the funds will be redirected to soft infrastructures such as hospitals and regional health centers," he told reporters on the sidelines of the 2025 Fiscal Policy Conference.