President Ferdinand R. Marcos Jr.’s economic team unveiled on Tuesday, July 26, the government’s eight-point socio-economic agenda on how to recover and ramp up the economic situation of the country in his six-year term of administration.
Among his agenda are:
- Protect purchasing power and mitigate socioeconomic scarring.
- Reduce vulnerability and mitigate scarring from the COVID-19 pandemic
- Ensure sound macroeconomic fundamentals
- Create more jobs
- Create quality jobs
- Create green jobs
- Uphold public order and safety, peace and security
- Ensure a level playing field
Through the government’s socio-economic agenda, the Marcos administration targets to lower by 9% the poverty incidence by 2028 and increase the number of middle-income Filipinos.
The government’s goal in 2022 is to increase the gross domestic product growth rate to 7.5% from 6.5%, while its target by 2023-2028 will be 8% from 6.5%.
According to Finance Secretary Benjamin Diokno, the key to sustaining the funds of the government is to strengthen its tax system from the previous administration.
“This is our moment, the Philippine economy, down the road,” Diokno said.
Meanwhile, the Department of Trade and Industry and labor department will continue coordinating with the private sector in providing jobs and employment. –Report form Louisa Erispe/KC – gb
