“There is no collateral here,” Finance Secretary Carlos Dominguez 3rd told reporters. “I don’t know what the other countries are doing, but here they are not asking us collateral,” he added. Dominguez said these projects, which are part of the administration’s centerpiece “Build Build Build” program, would be affected if legislators push for the suspension of the Tax Reform for Acceleration and Inclusion (Train) law. The department claimed that other factors such as a rise global oil had driven inflation to 4.5 percent in April. “Train is a long-term measure that would push the economy to a much higher development path, create more jobs and improve the living conditions for our people.”

Source: Manila Times May 13, 2018 16:41 UTC