The forum held on April 18 (Photo: philstar.com)
 

Hanoi (VNA) – The Philippine government on April 18 announced a new development strategy called “Dutertenomics”, aiming to make breakthroughs in developing infrastructure.

Poor infrastructure is debilitating the economy of the Philippines, said Minister of Finance Carlos Dominguez at a forum held in Manila on April 18.

He also stressed that the Philippines neglected its infrastructure in the past decade while other countries rapidly built theirs.

At the forum, six governmental agencies related to infrastructure agreed on the “Dutertenomics” programme which includes the participation of the departments of finance, budget, transportation, public works and economic development.

The “Dutertenomics” strategy, named after President Rodrigo Duterte, also eyes reducing the poverty rate to 14 percent by 2020 from 21.6 percent in 2015 by creating jobs and investing in human resources.

The country’s administration will roll out some 55 projects by 2020 to achieve sustainable development goals, according to Philippine media.-VNA