The government is working to ensure that its infrastructure projects will not raise the country's debt to unsustainable levels, National Economic and Development Authority Secretary Arsenio Balisacan said on Friday at a press briefing in Malacañang.

The NEDA Board, led by President Ferdinand Marcos Jr., has approved more public-private partnership projects totaling P270 billion for the tourism and healthcare sectors to help "address gaps" in those industries.

Balisacan said that the government is taking into account its medium-term fiscal program when implementing projects and accessing loans for financing.

Latest data from the Bureau of Treasury showed that the country's outstanding debt went up to P14.35 trillion in August from P14.24 trillion in July as the peso continued to depreciate against the dollar.

"We have a fiscal program, this administration has a fiscal program to ensure that as we rapidly implement our infrastructure projects, ramp up the implementation of many infrastructure projects, we do not go out of bounds , we do not create problems for the future especially raising the debt to unsustainable level," he said.

"In fact, our fiscal progr am was designed in such a way that from… after the COVID when the debt was increased substantially, we are on a downward track. We want to get those debts and those deficits at a lower level by the time that we leave and this administration ends," he added.

Balisacan said that the government is capitalizing on the availability of capital from the private sector by using the public-private partnership mode of financing its infrastructure projects.

"We are, to the extent possible, using this public-private partnership mode of financing our infrastructure while ensuring that these infrastructure services will be accessible to all our people, particularly among the poorest in our society," he said.

Projects approved by NEDA Board

The Bohol-Panglao International Airport upgrade, which will cost P4.5 billion, is one of the "high-impact programs and projects" recently approved by the NEDA Board.

Beyond its existing capacity of two million people annually, the project aims to extend the gateway to accommodate 3.9 million passengers annually.

The NEDA Board approved modifications to the project's budget and schedule for the 32.15-kilometer Bataan-Cavite Interlink Bridge.

The project cost has increased to P219.3 billion, and the implementation term has been prolonged to December 2029.

The bridge would be built across Manila Bay, according to Balisacan. He said that once operational, the trip from both provinces would only require 30 to 45 minutes.

The Baguio General Hospital and Medical Center's Dialysis Center PPP Project was also approved by the NEDA Board. Its P392 million project cost makes it the "largest government-funded tertiary hospital in the Cordillera Administrative Region," according to the NEDA spokesman.

The Green Economy Program in the Philippines and the adjustments to the budget, scope and schedule of the Cebu Bus Rapid Transit are two more authorized projects.

"With these approved projects, the Marcos Administration reaffirms its commitment to aggressively advance infrastructure development to attain our medium-term development goals of more high-quality jobs and better lives for all Filipinos," Balisacan said.