MANILA - Rebuilding Marawi would cost P53.4 billion, the National Economic Development Authority said Monday, ahead of the anniversary of the siege by Islamic militants on the city.

In 2018, the government will need P26.2 billion, of which P15 billion will be sourced from the national budget. The rest will be sourced from official aid.

The Maute Group, which pledged allegiance to Islamic State jihadists battled government forces in the city for 5 months.

A Filipino-Chinese consortium has submitted a proposal worth P17 billion to P20 billion to rebuild most of the areas. Groundbreaking is expected in June.

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