Manila, Sept. 2 -- Finance Secretary Ralph Recto on Tuesday expressed grave concern and dismay over the reported anomalies and corruption in the Department of Public Works and Highways (DPWH) flood control projects, noting that ghost projects already cost the economy as much as over PHP100 billion.

During the Development Budget Coordination Committee's briefing at the Senate, Recto, citing DOF data, said these ghost flood control projects have cost the Philippine economy an estimated PHP42.3 billion to PHP118.5 billion from 2023 to 2025.

This is equivalent to 95,000 to 266,000 jobs that could have benefited Filipinos.

"Raising revenues is no joke. Tapos makikita mo lang na hindi ito napupunta sa mga tamang proyekto at sa kapakanan ng t...