Economic Losses From Anomalous Flood Control Projects Likely Hit up to P119 Billion, Recto Says - BusinessWorld Online

DOF: Corruption in flood control projects cost PH economy up to P118.5 billion

MANILA, Philippines – The Philippine economy may have lost around P42.3 billion to P118.5 billion in the last two years due to corruption in flood control projects, the Department of Finance (DOF) said on Tuesday, September 2. Finance Secretary Ralph Recto disclosed this figure on the second day of the Senate finance committee’s briefing with the Development Budget Coordination Committee (DBCC). Recto said these economic losses translated to aro…

Economic losses from anomalous flood control projects likely hit up to P119 billion, Recto says - BusinessWorld Online

By Aubrey Rose A. Inosante, Reporter CORRUPTION related to flood control projects have cost the Philippines up to P118.5 billion in economic losses since 2023, Finance Secretary Ralph G. Recto said on Tuesday. “Due to ‘ghost’ projects, our economy lost between P42.3 billion and P118.5 billion from 2023 to 2025,” Mr. Recto said in his presentation during a Senate Finance Committee hearing. These estimated average economic losses are based on info…

P118.5 billion a year lost to flood control corruption – DOF

Economic losses from corruption in flood control projects may have averaged P118.5 billion annually from 2023 to 2025, the Department of Finance reported yesterday at a Senate hearing.

PH economy lost over P100-B to 'ghost' flood control projects from 2023-2025: Recto

Finance Secretary Ralph Recto told the Senate Finance Committee that the Philippine economy lost over P100 billion to "ghost" flood control projects from 2023 t

Flood control project graft cost economy up to P118B, DOF says

MANILA, Philippines — Corruption in flood control projects drained the economy of an estimated P42.3 billion to P118.4 billion from 2023 to 2025, according to a Department of Finance (DOF) study. READ: Billions flow to flood control, but not to save us from rising waters The DOF said the losses could have otherwise generated 95,000

PH economic losses hit 100B from corruption in flood control projects

MANILA, Philippines — Finance Secretary Ralph Recto said on Tuesday that corruption in government infrastructure projects has slowed economic growth and has resulted in losses of over P100 billion since 2023.