The Marcos government is confident it will be able to bring down the poverty rate to 9 percent by 2028, following assurances from the National Economic and Development Authority (NEDA) the said goal is achievable despite the high inflation and other challenges in the economy.
The Office of the Press Secretary said Arsenio Balisacan, socioeconomic planning secretary and NEDA director- general, yesterday reported to President Marcos Jr. that the 9 percent poverty rate by 2028 will be accomplished by “bringing growth to a higher level, enhancing the quality of growth through the creation of quality jobs and improving the social protection system, among others.”
“Associated with that would be the generation of not just more jobs but higher quality jobs.
And those two, growth and jobs and paying attention to social protection to address shocks like typhoons and crises… (would) enable us to achieve faster reduction of poverty from where it is today to single digit, at 9percent actually,” OPS said in a press release quoting Balisacan.
It added hitting the 9 percent poverty rate by 2028 is part of the goals of the Philippine Development Plan (PDP) 2023-2028 the NEDA is set to present by December.
PDP 2023-2028 sets the Marcos administration’s eight-point program and contains targets and actionable plans that will help the country pursue a greener economy and more sustainable, affordable and livable residential areas in the next six years.
It also includes actionable strategies to develop the domestic market considering its vast potential for both foreign and local investors.
Balisacan said they have briefed Marcos about the “major elements” of the PDP and the President “provided comments, suggestions moving forward.”
“He emphasized that the plan should address the concerns of the development… of the local markets. Which is correct, ensuring that they receive the same assistance,” he said.
Balisacan NEDA will regularly monitor and evaluate the implementation of the plan .
He said they will report to the President annually on “how the plan is being implemented and the performance and the various metrics or targets that have (been) indicated in the plan.”
Balisacan said this will be the first time a PDP is presented before the start of the first full year of the sitting President.
