“We have seen the government’s list of projects and they are bidding them out early, that is why we have been procuring equipment,” said Teravera vice-president Aldrin Cabrera. The controversial leader says he plans a $180 billion “Build, Build, Build” infrastructure campaign in his six-year term. “However, the capacity of the bureaucracy to process a huge volume of projects …(is) untested,” he added. The peso is Asia’s worst performing currency this year, hitting lows close to 51 per dollar last month. At the market close in Manila on Friday, the peso traded 50.16 to the dollar, down 0.9 percent in 2017.

Source: Indian Express August 06, 2017 08:10 UTC