October 18, 2017: *** The newly-restored Holy Trinity Parish Church of Loay is formally turned-over on Sunday October 15, 2017 from the National Historical Commission of the Philippines (NHCP) to the Diocese of Tagbilaran through Bishop Alberto Uy. ***For the very first time, Bohol landed among the 14 finalists in the search for thr Most Business-Friendly Province in the country. ***PDEA-Bohol Head Agent Nicholas Gomez admitted that the drug problem in Bohol persists despite the reduction of supply of shabu coming from Cebu. *** The administration of the Bohol District Jail is now planning to acquire an x-ray machine as part of its crackdown on the entry of contraband into the jail facility, said BDJ Warden Jail Chief Insp. Felipe Montejo. *** DILG-Bohol conducted People's Forum on Federalism on October 17, 2017 at JJ's Seafood Village with city/municipal information officers and CSO/Faith-Based Representatives as participants. ***Schools across the province are expected to conduct make-up classes in lieu of class suspensios due to the two-a nationwide raspot astrike, according toDepEdBohol SchoolVGovernace and Operations Division Chief Desiderio Delgero. ***The province is bent on making history by getting a UNESCO recognition as a global geological park, the first for Philippines. ***The symbolic unveiling of the Geomarker at the Chocolate Hills Complex on Sunday will boost Bohol's application for UNESCO declaration of the entire province as a global geological park.

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Tuesday, April 02, 2013

Fitch upgrade to drive infra spending to 5% of GDP 

Fitch Ratings’ investment grade stamp for the Philippines will help push infrastructure spending higher, as the Administration creates greater room for expenditures for the country’s social and economic sectors, according to the Department of Budget and Management. 

“With the country now at investment grade, we’re determined to strengthen our economic position further and expand our fiscal space for key socio-economic services. At the same time, we expect to attract more investments into the country’s infrastructure development program and, eventually, bring infrastructure spending to five percent of GDP,” Budget Secretary Florencio Abad said in a statement Sunday. 

He confirmed that at the moment, public spending for infrastructure is at 2.8 percent of GDP. The Aquino administration has earlier committed to bring expenditures for infrastructure to 5 percent of GDP by 2016. 

Abad added that more infrastructure investments will help support the growth of key industries, including the country’s agriculture, tourism and Business Process Outsourcing (BPO) sectors. 

These include rehabilitating and developing arterial farm-to-market roads—especially in rice-and-corn, coconut, and high-value crop areas—and improving road access to tourism zones, and upgrading key airports and seaport hubs in tourist destinations. 

Also in the works are the upgrading and expansion of rail and metro-rail transport systems and bus stations in urban centers. 

Abad emphasized that infrastructure spending will also buoy the Administration’s social services programs, such as social housing for informal settlers, rural electrification in remote sitios and barangays, the development of post-harvest facilities, and the rehabilitation and upgrading of Regional Health Units, as well as district, provincial, and regional hospitals. 
He recently expressed optimism on the country’s growth prospects, in the wake of Fitch’s rating upgrade for the Philippines. 

“As we strengthen our bid for rapid, inclusive, and long-term economic growth, we look forward to inviting greater confidence from the global market, especially as we pursue our good governance agenda and work toward establishing real transparency, accountability, and openness in the Philippine bureaucracy. Ultimately, we intend to facilitate socio-economic growth that is truly inclusive, where jobs are successfully created and the dividends of improved governance are cascaded to all Filipinos,” he said. (DBM)

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