By Alec Go
Department of Finance (DOF) Secretary Carlo Dominguez said Rodrigo Roa Duterte’s presidency has been generally successful amid achievements in economy and public compliance with the law.
Dominguez said in a post-State of the Nation Address (SONA) interview that the administration had developments in its target to reduce poverty, to make Filipinos “more law abiding,” and to ensure peace.
“When you look at reducing poverty, we had a target, we had a 10-point economic program. The target was to reduce poverty from 23.5%, and we were aiming to reduce it to 14% in 2022. By 2019 or 2018, our poverty rate has already gone down to 16.5%,” he said, citing the administration’s 10-point socioeconomic agenda.
Read more: DSWD: Poverty rate drops under PRRD administration
“The 10-point economic program said we have to do a Build, Build, Build program, because Build, Build, Build creates a lot of jobs, puts money in the economy. But to do that, you also have to have a Tax Reform,” he added.
The official said the administration reached 85% of its goals in the economic sector.
Dominguez said the administration also made good with its target on drugs, corruption, and tax evasion with the largest tax collection of $600 million from a single company.
Read more: Gov’t fight vs corruption, crime continues
He said Duterte achieved its third goal to have peace within the country’s borders by signing into law a measure establishing the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and other peace negotiations.
Next move
The finance chief shared that they are now preparing plans for the next administration which may increase taxes and reduce expenditures “that are unnecessary.”
“We are preparing that plan, so when we turn over to the next administration by June 30, 2022, there will be a good solid, what we call a “fiscal recovery plan,” he said.
According to National Economic and Development Authority (NEDA) Secretary Karl Chua, the management of risks and safe reopening of the economy will further generate employment to aid economic recovery.
“We have a budget prepared to fight COVID. There’s vaccination money there, there is a recovery, and enacted the CREATE Law, the FIST Law. These are reforms that enable our recovery,” Chua said.
“If we do these three recovery measures, we are going to be able to get our country back to pre-pandemic levels by next year,” he added.
Duterte already called on Congress anew in his SONA speech to pass measures to amend the Public Service Act, Retail Trade Liberalization Act, and Foreign Investment Act. – rir
