National Economic Development Authority (NEDA) Secretary Arsenio Balisacan on Tuesday emphasized the need to balance funds for the government’s housing project so as not to affect other sectors.
At a Palace press briefing, Balisacan was asked if there would be an economic impact on the challenges being met in completing the target of six million housing units by 2028.
”When we look at the implications of that in the economy particularly on the fiscal issues – ang sabi natin was hindi kaya because it can impact the other sectors because the program requires subsidizing the beneficiaries because the targeted beneficiaries are the low income households ‘no and it involves giving subsidy, interest subsidy to the loan and that’s borne by government ‘no,” Balisacan said.
”And as we put in more money there, of course we would have less resource for education, for health, for infrastructures so, you know, we have to balance to ensure that the economy is not affected adversely,” he added.
Balisacan said the Pambansang Pabahay para sa Pilipino Housing (4PH) Project would be kept, adding that it will contribute to additional jobs for Filipinos.
”In fact, as we said, that’s where some of these jobs, many of these jobs that were generated – these 1.5 new jobs, new employment created ‘no as opposed to the 40,000 na displaced by that minimum wage,” Balisacan said.
”Think about this 1.5 million new employment, that’s quite a big one and as I said, part of that was coming from this 4PH Program,” he added.
Earlier, Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar admitted that it would be difficult to complete the target of six million housing units until 2028.
During the pre-SONA briefing, Acuzar explained that while there is no problem with funds, the construction of these housing units has been challenging. —VAL, GMA Integrated News
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