MANILA - Daily losses to the economy due to the Philippine capital's traffic congestion problem has risen to P3.5 billion, the Japan International Cooperation Agency said Thursday.
"JICA had previously estimated the daily losses from traffic at P2.4 billion and warned that this could go up to P6 billion by 2030 if the situation was not addressed.
Susumi Ito, JICA chief representative to the Philippines, said President Rodrigo Duterte's infrastructure program could help trim the losses. Japan is helping fund some of the projects, including Metro Manila's first ever subway system."
The government hopes to break ground on the first phase of the subway project within the year. Once completed, it will run from Mindanao Avenue in Quezon City to FTI in Taguig City, cutting travel time between the two areas to 31 minutes from 80 minutes.