I Love Pinoys

MANILA, Philippines - The Philippine government should allot more funds in sectors involved in production and job creation to protect the public from what observers said is the “perfect economic storm,” economists said.

Former Budget Secretary Benjamin Diokno said Malacañang should consider shelving big projects, like international airports in provinces, for the next 18 months.

“The focus should be on job creation and on the maintenance of existing infrastructure,” Diokno said during the Budget Advocacies for Media forum Friday.

He identified the country’s irrigation system as among various pieces of infrastructure that should be maintained and rehabilitated.

“If the government rehabilitates all canal and irrigation systems, that’s already P20 billion. That’s equivalent to the annual losses of the NFA (National Food Authority),” Diokno said.

Former National Treasurer Leonor Briones, who now heads Social Watch Philippines, echoed Diokno’s views on agriculture, asserting that the country should start being self-sufficient in rice production.

The Philippines, an agricultural country, is the world’s biggest rice importer. - Anna Barbara L. Lorenzo, GMANews.TV