Ghost flood projects cost PH economy up to P118.5 billion

Finance Secretary Ralph Recto reported that "ghost" flood control projects have cost the Philippine economy between PHP42.3 billion and PHP118.5 billion from 2023 to 2025.

These losses represent between 95,000 and 266,000 jobs that could have been created for Filipinos.

Recto expressed concern over these anomalies within the Department of Public Works and Highways (DPWH), noting that funds have been wasted on non-existent projects.

The Office of the Ombudsman has launched a motu proprio investigation into the alleged irregularities, forming a special panel of 13 members.

Recto stated that if the funds were spent better, the Philippine GDP, which grew by 5.5% in 2023 and 5.7% in 2024, could have reached 6%.

A Batangas lawmaker suggested reducing the DPWH budget to mitigate potential corruption.