By Gabriela Baron
The Philippine government is confident it will be able to bring down the poverty rate to 9% by 2028, National Economic and Development Authority (NEDA) Chief Arsenio Balisacan said.
Balisacan said the goal is “achievable”amid the challenges of faster inflation rate.
He noted that the 9% goal by 2028 will be accomplished by bringing growth to a higher level through quality job creations and improving the social protection system.
“But 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… to enable us to achieve faster reduction of poverty from where it is today to single digit, at 9% actually,” Balisacan said.
President Ferdinand R. Marcos Jr. earlier noted the gross domestic product (GDP) displaying a rebound growth rate of 5.7% in 2021 and a 7.8% average growth rate for the first half of 2022.
Balisacan also expressed confidence that there is a reason for optimism as the Philippines’ rapid growth recovery is firming up despite global headwinds. -ag
