Economy & Market
Philippines Q1 sales up by 13percent
Philippines cement sales increased by 12.8 per cent Y-o-Y in the first quarter of 2016, according to Ernesto Ordoñez, President of the Cement Manufacturers Association of the Philippines (CeMAP). Volumes rose from 5.7 million tonne in 1Q15 to 6.43 million tonne. ´Demand will continue to be strong, especially with presumptive President Duterte saying that infrastructure will remain a high priority during his administration,´ said Ordoñez.
For this year, the Aquino administration has allotted an infrastructure budget of PHP364.7bn ($7.79bn) under its Department of Public Works and Highways, reflecting an increase of 33 per cent.