Economic managers are already eyeing the returns they expect from the Maharlika Investment Fund (MIF) as a source of funding for the Marcos administration’s big-ticket infrastructure projects, even before the sovereign wealth fund has been signed into law.
According to Bernadette Reyes’ report on “24 Oras” on Thursday, the officials touted the government’s 194 infrastructure projects amounting to P8.3 trillion during an economic briefing on Thursday in Singapore.
Included in the Build Better Program are infrastructure projects related to connectivity, water resources and agriculture. More than half of its budget will come from the Official Development Assistance (ODA) and 30% from Public-Private Partnerships. A portion is now expected to come from the MIF.
“We want the Maharlika Fund to be able to finance some of them, not all of them, okay? We have identified another source of funding for this very important infrastructure project that will make a difference in the landscape of the Philippine economy,” Finance Secretary Benjamin Diokno said.
“We will graduate into an upper-middle-income country soon, maybe in a year or two, and that means we will not be entitled to the same ODA funding so that is another source of funds,” he added.
Aready expecting high gains for something that is high chance will cripple the country in the near future. Maybe economic managers are taking advice from wallstreetbet redditors. Buy high sell low, 💎💎👐