To begin with, the economic managers were quite proud of the which Duterte signed in February 2019. Dominguez made sure to mention that the law was passed after 30 years of failed attempts, and brought down rice prices after the spell of high inflation in 2018.
Meanwhile, Socioeconomic Planning Secretary Karl Chua touted an 11.1% increase in rice productivity before and after the RTL . But the government’s original goal was: to raise productivity from 4 to 6 tons per hectare within 6 years. Between 2019 and 2020 actual productivity rose by less than 1%. Finally, despite lower rice prices, the economic managers conveniently omitted the fact that inflation has picked up again recently – this time more painfully because we’re in the middle of the country’s
More to the point, Train was sold to the public as a way to finance the government’s ambitious infrastructure spending spree called Build, Build, Build. But judging from the glacial pace of Build, Build, Build, Train failed to produce the promised “recurrent and robust revenue flow.” In its first 3 years, Train reportedly earned P305 billion in revenues. That’s peanuts.
jcpunongbayan Rappler basura.