'Dutertenomics' to create 2 million jobs annually: budget chief


Posted at Jun 29 2017 04:03 PM | Updated as of Jun 29 2017 05:41 PM

MANILA – President Rodrigo Duterte’s P8-trillion infrastructure program will create a shortage in labor that might require bringing home overseas Filipinos or importing workers, one of his economic managers said Thursday.

The 75 projects under the President’s “build build build” list will create 2 million jobs annually and this early, construction companies are “having a hard time” looking for laborers, Budget Secretary Benjamin Diokno said.

“Everything is moving,” Diokno told ANC’s Market Edge with Cathy Yang.

Diokno said the slowdown in public spending this year compared to the previous year was due to the absence of election-related expenses.

"Build, build, build is going to create a shortage in labor," he said.

“I don’t mind if we import labor just to finish the projects. We can even import labor from Pakistan, India. We have 75 major projects, there’s no way of stopping that. We won’t stop,” he said.

Diokno said the economy was “definitely” better under Duterte, with the completion of major infrastructure projects started by his predecessor, Benigno Aquino.

These include the Ninoy Aquino International Airport Espressway and a new airport in Puerto Princesa, Palawan.

Diokno said the entire tax reform program would yield P366 billion over 5 years, enough to help fund the infrastructure program.