By Katrina Gracia Consebido
The Marcos administration is aiming to reach an upper-middle income status with a $4,046 income per capita for the country by 2028, according to Department of Finance (DOF) chief Benjamin Diokno.
The finance secretary shared on Wednesday, July 6, some of the medium-term fiscal targets of President Ferdinand “Bongbong” Marcos Jr. in his six-year term ending in 2028.
“We want to achieve what is called an upper middle-income status so that means that we are shooting for a 4,046 dollar per capita income for the Philippines, by the end of the President’s term,” he said.
This is one of the main targets of Marcos administration in ramping up the economy, along with reducing the poverty rate to 9% and hitting growth rates of 6.5% to 8% from 2023 to 2028.
Diokno said they are not just planning for a “one-year plan,” and that it was the first time an administration will present such a “game plan” for the benefit of every Filipinos and the country.
“Those are the main targets of this medium-term fiscal framework. I cannot talk in more details because this is supposed to be the President’s — he will present this during his SONA and he will spell out the specifics on this,” he said. – ag
