infrastructure – Page 3 – Author Carlo Carrasco

Nomura trims Philippine economic growth forecasts for 2025 and 2026

May 16, 2025May 14, 2025carlocarrasco

As far as the Nomura Global Markets Research is concerned, the economic growth of the Philippines will for 2025 and 2026 will end up weaker than previously expected, according to a BusinessWorld news report.

To put things in perspective, posted below is an excerpt from the news report of BusinessWorld. Some parts in boldface…

NOMURA GLOBAL Markets Research has trimmed its gross domestic product (GDP) growth forecasts for the Philippines for this year and 2026 following the weak first-quarter expansion.

Nomura cut its Philippine economic growth forecast to 5.3% for this year from 5.9% previously, it said in a report dated May 9. It also slashed its 2026 projection to 5.6% from 6.1%.

Both projections are well below the Development Budget Coordination Committee’s 6-8% growth target for 2025 until 2028.

“Our 2025-26 GDP forecast revisions take into account the disappointing first-quarter outturn, which only rose slightly to 5.4% year on year from 5.3% in fourth quarter 2024, despite election-related spending,” Nomura analysts Euben Paracuelles and Nabila Amani said in the report.

“Escalating global trade and geopolitical tensions are the main downside risks to growth. A faster rollout of infrastructure projects and lower oil prices are upside risks.”

The Philippine economy expanded by 5.4% in the first quarter, the government reported last week. This was a tad faster than the revised 5.3% in the previous quarter but sharply slower from the 5.9% growth in the same period in 2024.

Department of Economy, Planning, and Development Undersecretary for Policy and Planning Group Rosemarie G. Edillon said that GDP would need to grow by 6.2% for the rest of the year to reach the lower end of the 6-8% goal.

Based on its forecasts, Nomura expects the Philippines to post below-6% GDP growth for the rest of the year. Broken down, it sees GDP growth of 5.3% in the second quarter, 5.4% in the third quarter, and just 5% in the fourth quarter.

In 2024, the economy expanded by 6.5% in the second quarter, 5.2% in the third quarter, and 5.3% in the fourth quarter.

“A key source of the downside surprise [in the first quarter] was investment spending growth, which we believe suggests businesses have already turned cautious amid surging global trade uncertainty, even in a less open economy,” Nomura said.

“We expect a moderate pickup in real GDP growth in 2026, led by the government’s strong push for more progress on infrastructure projects.”

It added that it expects the country to post a current account deficit of 4.1% of GDP this year and 4.4% of GDP next year, wider than the 3.8% ratio in 2024, driven by an increase in capital goods imports amid the government’s infrastructure push and weaker exports due to the US’ tariffs.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines can still grow stronger than what Nomura predicts in 2025 and 2026? Do you think the national government should make new economic moves to stimulate the national economy while also attracting new foreign investors?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Passenger service fees in CAAP airports hiked

April 26, 2025April 23, 2025carlocarrasco

If you are traveling through an airport operated by the Civil Aviation Authority of the Philippines (CAAP), prepare yourself as the passenger service charge has officially been raised since April 21, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the report of the PNA news article. Some parts in boldface…

A higher passenger service charge (PSC) has been imposed in all airports operated by the Civil Aviation Authority of the Philippines (CAAP) starting April 21.

“The increase, primarily adjusted based solely on inflation from 2015 to present, underwent the required public hearing with various stakeholders, as well as the necessary publication,” the aviation authority said in a news release late Monday.

It added that the adjustment supports CAAP’s efforts to enhance passenger experience and improve airport facilities and operations.

In Memorandum Circular 019-2025 signed on April 4, the PSC for international flights rose to PHP900 from PHP550.

From the PHP200 PSC for domestic flights, the rate will be PHP350 for international airports; PHP300 for principal class 1 airports; PHP200 for principal class 2 airports; and PHP100 for community airports. CAAP operates 44 commercial airports.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the hike of the passenger service charge at CAAP airports has been justified? How much did you pay recently at a CAAP-operated airport?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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1.17 million passengers accommodated by NAIA during Holy Week travel

April 25, 2025April 23, 2025carlocarrasco

Were you able to travel by airplane during the Holy Week? More than a million people traveled during the said week (April 13 to 20, 2025) based on the count of the Ninoy Aquino International Airport (NAIA), according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the report of the PNA news article. Some parts in boldface…

The Ninoy Aquino International Airport (NAIA) accommodated 1.17 million travelers during Holy Week from April 13 to 20, up 12.7 percent from the previous year.

Daily average volume was 146,611, peaking at 156,635 on Easter Sunday.

Domestic and international passenger traffic rose by 14.9 percent and 11.21 percent, respectively, year-on-year.

“This Holy Week showed how much better NAIA is becoming. We saw higher passenger numbers, but smoother and faster operations. That’s not by chance, it’s the result of planning, investment, and teamwork,” New NAIA Infra Corp. (NNIC) president Ramon Ang said in a statement on Monday.

The San Miguel Corp.-led NNIC attributed the smooth and orderly operations across all terminals to the efforts of key agencies and the operational improvements in recent months.

The Bureau of Immigration, for instance, deployed additional personnel and opened more counters at the country’s main gateway.

“As a result of these combined efforts, NAIA recorded an on-time performance (OTP) of 83.28 percent across all terminals throughout the Holy Week period —an indicator of smoother airport operations and more efficient turnaround for airlines,” the NNIC said.

Let me end this post by asking you readers: What is your reaction to this recent development? If you had traveled by air during Holy Week this year, how was your experience? Did you notice a lot of improvements with NAIA’s facilities and handling of passengers?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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25-year infrastructure masterplan to be crafted by DEPDev

April 23, 2025April 21, 2025carlocarrasco

A 25-year infrastructure masterplan will be crafted soon by the Department of Economic Planning and Development (DEPDev) to ensure the continuation of critical projects even though government transitions happen, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the report of the PNA news article. Some parts in boldface…

The Department of Economic Planning and Development (DEPDev) is set to craft the country’s first 25-year infrastructure masterplan to ensure that critical projects continue despite changes in administration.

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said in a recent press chat that the Economy, Planning and Development Act, which reorganizes NEDA to DEPDev, mandated the agency to formulate the country’s first long-term infrastructure blueprint.

The law was signed by President Ferdinand R. Marcos Jr. on April 10 and would take effect on April 27.

“The law now tasks us to produce the first long-term framework for the period 2025 to 2050. And then it also tasks us to provide and to lead the efforts in coming up with this long-term comprehensive infrastructure development framework,” Balisacan told reporters.

Balisacan said this is the first time that a government agency is mandated by law to oversee and carry these plans forward, especially as administration changes.

“The new law gives that mandate to DEPDev, serving as link between the outgoing administration and the incoming administration,” he added, emphasizing the importance of continuity of key infrastructure projects.

Historically, infrastructure development in the Philippines has suffered from inconsistent implementation, with projects often stalled or abandoned due to shifts in leadership.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think that infrastructure development in the Philippines will change for the better once the 25-year masterplan becomes a reality in the near future? Are you sick and tired seeing infrastructure projects getting disrupted whenever a change of government happens?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Finance Secretary confident with 6% Philippine economic growth this year

March 27, 2025March 19, 2025carlocarrasco

Recently, Finance Secretary Ralph Recto expressed during an interview with Bloomberg TV that the Philippine economy will grow by at least 6% this year and mentioned factors like continued infrastructure spending, low unemployment, the cutting of interest rates and more, according to a Philippine News Agency (PNA) news article.

To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…

Finance Secretary Ralph Recto said he is confident that Philippine economic growth would hit at least 6 percent this year.

In an interview with Bloomberg TV on Wednesday, Recto said he is banking on more interest rate cuts, infrastructure spending, and election-related spending to boost economic growth.

“We’re pretty confident that we would hit at least a 6 percent growth. The World Bank, the IMF (International Monetary Fund), and many other institutions are saying that we’re on track to 6 percent. Our macroeconomic fundamentals are very good,” said Recto.

“Unemployment is down. The middle class is growing. We’re investing more than 5 percent of GDP (gross domestic product) in infrastructure. We have elections also right now, and during elections, there’s more spending, so we’re pretty confident we hit at the very least 6 percent this year.

He said with inflation settling within the government’s 2 percent to 4 percent target range, the Bangko Sentral ng Pilipinas (BSP) has room to further reduce policy rates, which in turn, would boost consumer spending.

“Equally important, I suppose, is the reduction of interest rates. It would appear that, because inflation has been controlled in the Philippines and the inflation today is something like 2.5 percent, there is room for a rate cut in our next (meeting) so we’re in an easing cycle. It’s a high probability that we could do a rate cut also for in our next meeting,” he said.

The Monetary Board of the BSP has so far cut rates by 75 basis points last year. Recto said he is hoping that the BSP Monetary Board would deliver a 50 to 75 basis point cut this year.

“Hopefully, at the minimum 50 and probably 75 basis points, for the year that will help propel growth, consumption, and investments moving forward,” he said, adding that the rate cuts would boost economic growth by at least half a percent.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the economy of the Philippines will grow by at least 6% by the end of this year? Do you think Recto’s interview will convince foreign investors to invest in the Philippines this year?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Wider SLEX stretch of Susanna Heights-Calamba to open this December

November 28, 2024November 27, 2024carlocarrasco

Next month, the South Luzon Expressway (SLEX) stretch of Susanna Heights to Calamba will be wider and opened in time for the Christmas season as assured by San Miguel Corporation (SMC) chairman and CEO Ramon Ang, according to a GMA Network news report.

To put things in perspective, posted below is an excerpt from the GMA news report. Some parts in boldface…

The new configuration of the South Luzon Expressway (SLEX) from Susanna Heights, Muntinlupa to Calamba, Laguna — with six lanes on both the northbound and southbound sides —is expected to open in December in time for Christmas, San Miguel Corporation (SMC) chairman and CEO Ramon Ang has said.

In a statement on Tuesday, Ang said the at-grade expansion on SLEX, undertaken by San Miguel unit SMC SLEX Inc., was “proceeding on schedule, with the said 29-kilometer stretch slated to open in the third week of December.”

The construction of the section from Calamba to Sto. Tomas, Batangas, and the expansion of 20 bridges connecting the SLEX main carriageway will be completed by July 2025, the SMC chief said.

“This December, as our countrymen prepare to celebrate Christmas and travel more to spend time with friends and family, they can look forward to a wider, better SLEX. This will help in significantly reducing traffic buildup during the holiday rush,” Ang said.

“The SLEX expansion is a major undertaking that entailed significant effort and investment, and a lot of patience and cooperation from motorists and stakeholders. We are very glad that motorists can soon enjoy faster trips to and from Southern Luzon,” he added.

Ang said that ensuring that SLEX is fully operational throughout the construction period has been a consistent priority of the company.

“Our contractors and project teams continue to do everything they can to minimize impact on vehicle traffic,” Ang said.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you plan to travel far via the SLEX this coming Christmas season?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagement, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

At least 4 more airports expected to be privatized in 2025

October 14, 2024October 9, 2024carlocarrasco

Recently the Department of Transportation (DOTr) announced that at least four more airports are expected to be privatized in 2025, according to a BusinessWorld news report. Clearly the recent privatization of the Ninoy Aquino International Airport (NAIA) sparked a wave of change with regards to air travel and the need to modernize airports.

To put things in perspective, posted below is an excerpt from BusinessWorld report. Some parts in boldface…

AT LEAST four more Philippine airports in the countryside are expected to be privatized in 2025, the Department of Transportation (DoTr) said last week.

“For next year, we have Iloilo, Puerto Princesa and Kalibo [airports],” Transportation Undersecretary Roberto C.O. Lim told reporters on the sidelines of an aviation forum. “We have ongoing negotiations with the proponents.”

The agency also expects to launch the competitive tender for the Davao International Airport under a public-private partnership (PPP) program.

Villar-led Prime Asset Ventures, Inc. holds the original proponent status for both P14.7-billion Iloilo International Airport and P10.24-billion Puerto Princesa International Airport, according to the Public-Private Partnership (PPP) Center website.

Meanwhile, Mega7 Construction Corp. has submitted an unsolicited proposal to operate, upgrade and maintain the P3.62-billion Kalibo International Airport.

Mr. Lim said the government expects to award the contract for the operations and maintenance of New Bohol-Panglao International Airport this year. The contract is undergoing a Swiss challenge, which allows other companies to submit alternative proposals that the original proponent can match.

In September, the infrastructure arm of the Aboitiz Group got the contract for the operations and maintenance of the P12.75-billion Laguindingan International Airport in Northern Mindanao.

Aboitiz InfraCapital, Inc. is expected to sign the contract this month, the Transportation department said, adding that the new private operator would take over operations by next year.

The same company also holds the original proponent status for the operations and maintenance of the P4.5-billion Bohol airport.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you approve of having more airports nationwide to get privatized? Do you have any concerns about the private entities mentioned in the report that want to privatize the other airports?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Official website and social media presence launched by New NAIA Infra Corporation (NNIC)

September 25, 2024September 19, 2024carlocarrasco

In its pursuit to keep the public informed and oriented, the new operator of the Ninoy Aquino International Airport (NAIA) – San Miguel-led New NAIA Infra Corporation (NNIC) – recently launched its official website as well as social media accounts, according to a Manila Bulletin news report.

For the newcomers reading this, the operations of NAIA were recently turned over to NNIC which is a private entity. NAIA is still owned by the national government.

To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

San Miguel-led New NAIA Infra Corporation (NNIC), the new private operator of the Ninoy Aquino International Airport has launched the official website and social media pages of NAIA as the transformation of the Philippines’ primary gateway begins.

The new website, www.newnaia.com.ph, focuses on providing comprehensive information about NAIA — including details on the ongoing transformation project, its progress, and the future vision for the airport.

It serves as a hub for travelers, offering real-time flight information as well as updates on airport services and amenities.

In honor of the Philippines’ modern-day heroes, the website will feature a regular section called Bagong Bayani dedicated to inspiring stories about Overseas Filipino Workers (OFWs).

NNIC has also launched its social media pages on Facebook and X (formerly Twitter) under the name newnaiaph. These will serve as additional channels for sharing updates, engaging the public, and building a community around the NAIA transformation.

The public can also connect via email (feedback@newnaia.com), hotline (+63 2 8877 1111), and SMS (TextNAIA) at +63 917 839 6242.

“The launch of our website and social media pages is part of our commitment to open communication and transparency,” said San Miguel Corporation Chairman and NNIC President and CEO Ramon S. Ang.

For your general reference:

https://www.newnaia.com.ph/

https://www.facebook.com/newnaiaph

https://x.com/newnaiaph

Let me end this piece by asking you readers: What is your reaction to this recent development? As a traveler, have you tried searching for relevant information on newnaia.com.ph? Have you been following NNIC’s accounts on Facebook and Twitter? Is the flight status tool of the official website working properly?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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Rehabilitation of airport begins as government formally turns over NAIA operations to San Miguel-led group

September 19, 2024September 18, 2024carlocarrasco

The rehabilitation of the Ninoy Aquino International Airport (NAIA) has officially started as a result of the government’s recent turnover of airport operations to the New NAIA Infra Corp. (NNIC) which is a San Miguel-led group, according to a news report by GMA Network. To be clear, the government still owns NAIA and the operations will be handed back by the private group many years from now. Over P140 billion will be invested on managing and improving the NAIA.

To put things in perspective, posted below is an excerpt from the GMA news report. Some parts in boldface…

The government turned over Saturday the operation of the Ninoy Aquino International Airport (NAIA) to the San Miguel-led New NAIA Infra Corp., setting in motion the rehabilitation of the Philippines’ main gateway.

In a news release, the Department of Transportation (DOTr) said key officials of the agency and Manila International Airport Authority (MIAA) handed over the airport to its new private operator during a ceremony at NAIA’s Terminal 3.

“The baton has been passed and now it is our turn in NNIC to carry it forward to the finish line,” said NNIC general manager Lito Alvarez.

Transportation Undersecretary for Aviation Roberto Lim expressed support to NNIC, saying the takeover would be a precursor to a world-class and modernized NAIA.

“Today, we celebrate the competitive spirit of the winning consortium, which brings financial muscle, management expertise, and the technical operations strength and experience of Incheon Airport,” said Lim.

The turnover of NAIA’s rehabilitation, operations, and further development to NNIC, formerly SMC SAP & Co. Consortium, is seen to boost the airport capacity to meet growing demand by handling more flights and passengers, while improving service quality and compliance with International Civil Aviation Organization (ICAO) standards.

San Miguel-led NNIC is investing approximately P144 billion to manage and improve NAIA under a 15-year concession, extendable by 10 years, which would be contingent on meeting key performance targets.

The DOTr clarified that ownership of the airport will remain with the government. The agency said that at the end of the concession period, NNIC will return to the government the operations of NAIA.

The government signed the landmark concession agreement for the NAIA Public-Private Partnership (PPP) project on March 18.

Among the expected improvements in NAIA that the traveling public and other stakeholders can expect include expansion of the Passenger Terminal Buildings (PTBs), additional aircraft parking bays, increase in vehicular parking slots, installation of world-class systems and technology, more food and beverage (F&B) and retail options, more convenient land transport connectivity, among others.

Furthermore, flight delays and cancellations due issues with airport facilities are expected to be significantly reduced.

NNIC Chairman Ramon Ang said, “A world-class airport means more jobs, more tourists and a much more stronger and prosperous Philippines.“

The consortium is committing to modernize NAIA, increasing its capacity from 35 million passengers to 62 million passengers. Air traffic movement is also expected to be increased from 40 movements per hour to 48.

The rehabilitation is expected to generate at least 58,000 jobs for Filipinos.

Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that the NAIA operations will improve under the San Miguel-led group? Do you think this will lead to improved travel efficiency, convenience and comfort for millions of air travelers in the Philippines?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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CMCI 2024: Parañaque falls down to 27th place among Highly Urbanized Cities on Competitiveness, finishes dead last on Government Efficiency

August 26, 2024September 1, 2025carlocarrasco

The latest results of the Cities and Municipalities Competitiveness Index (CMCI) for the year 2024 showed that the City of Parañaque fell down to 27^th place among the 33 Highly Urbanized Cities (HUCs) in terms of Competitiveness when compared to last year’s results. Also for the 2^nd straight year, Parañaque finished dead last at 33^rd place in the category of Government Efficiency.

Parañaque City, which was the 24th Most Competitive HUC a year ago, scored 35.3478 points in total on the main category of Competitiveness among HUCs ranking 27^th out of 33 HUCs overall.

*The overall ranking of Parañaque City among the 33 highly urbanized cities (HUCs) nationwide for the 2024 CMCI.*

Along the way, the city scored 7.9090 points on Government Efficiency for 33^rd place, 6.5970 points on Innovation for 31^st place, 11.1401 points on Resiliency for 30^th place, 4.6574 points on Infrastructure for 23^rd place and 5.0443 points on Economic Dynamism for 12^th place.

To see the full results, complete rankings and other details of the CMCI 2024 research, click https://cmci.dti.gov.ph/rankings-data.php?unit=Highly%20Urbanized%20Cities

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Parañaque City, do you think the City Government has been doing something wrong which resulted in a lower competitiveness ranking this year? Has your City Government been transparent with regards to rendering services to you?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

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