The Department of Finance says the country’s economy may have lost around P42.3 billion to P118.5 billion in the last two years due to corruption in flood control projects.
Full story: https://www.rappler.com/business/dof-ghost-flood-control-projects-economic-losses/
00:00The Department of Finance says the country's economy may have lost around Php 42.3 billion to Php 118.5 billion in the last two years due to corruption in flood control projects.
00:12Finance Secretary Ralph Recto discloses this figure during the second day of the Senate Finance Committee's briefing with the Development Budget Coordination Committee.
00:19He says the economic losses could have created around 95,000 to 210,000 jobs for Filipinos between 2023 and 2025.
00:26Recto says, quote, raising revenues is no joke and you see that it's not going to the right projects to benefit Filipinos. Other projects even became ghosts.
00:35Recto even said in an interview the economy may have grown faster if flood control funding had been properly used.
00:40The Marcos administration missed its economic growth target in the last two years.
Be the first to comment