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Manila Bulletin devider Philippines devider National devider Bring poverty rate down to 9% by 2028 --- Marcos

Bring poverty rate down to 9% by 2028 --- Marcos

Published Nov 15, 2022 01:40 pm

President Ferdinand "Bongbong" Marcos Jr. is confident that his administration will be able to bring down the country's poverty rate to nine percent by 2028.

President Ferdinand 'Bongbong' Marcos Jr. presides over a meeting with the National Economic and Development Authority on Nov. 15, 2022 in Malacañang. (Photo courtesy of the Office of the Press Secretary)

Socioeconomic Planning Secretary Arsenio Balisacan, who also heads the National Economic and Development Authority (NEDA) said that this is achievable amid global headwinds and the challenges of faster inflation rate.

He said the nine percent goal 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.

"But associated with that would be the generation of not just more jobs but higher quality jobs. And those two, growths and jobs and paying attention to social protection to address shocks like typhoons and crises... to enable us to achieve faster reduction of poverty from where it is today to single digit, at nine percent actually," Balisacan said in a meeting with the President in Malacañang on Tuesday, Nov. 15

The goal is part of the Philippine Development Plan 2023-2028 of the Marcos administration, which sets the government’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.

Marcos earlier noted the GDP displaying a rebound growth rate of 5.7-percent in 2021 and a 7.8-percent average growth rate for the first half of 2022.

Balisacan further said that there is a reason for optimism as the Philippines' rapid growth recovery is firming up despite global headwinds.

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