Ex-BSP official: Flood control scandal, political dynasties hinder economic growth

Former Bangko Sentral ng Pilipinas (BSP) deputy governor Diwa Guinigundo told the Senate on Thursday, September 24 that the flood control scandal had a “chilling effect” on private investment and government spending, and that red tape and weak governance continue to hold back economic activity. Guinigundo made the remarks during a hearing of the Senate ad hoc committee on Reinvigorate Investment and Sustainable Economic Growth (RISE), chaired by Senator Risa Hontiveros. Guinigundo also called on Congress to pass a “genuine” anti-political dynasty law. Updates from Rappler app: https://rplr.co/FrontPage Subscribe: http://rplr.co/RapplerYouTube More videos on Rappler: https://www.rappler.com/video