Whole-nation tack aims to steer gov’t bureaucracy in ‘same direction’
President Ferdinand Marcos Jr. approved Friday the Philippine Development Plan (PDP) 2023-2028 to boost deep economic and social transformation while reinvigorating job creation and steering the economy forward.
The PDP was prepared by the National Economic and Development Authority (NEDA) board, which the President chairs.
“I’m happy to announce that today, at the NEDA board meeting, we approved the Philippine Development Plan for 2023 to 2028 and this sets out the framework of the development plan for the Philippines and we have included all of the priority areas,” President Marcos said in a message.
The Chief Executive enjoined agencies to employ a whole-of-nation approach in the implementation of the PDP 2023-2028 and steer government instrumentalities into the “same direction.”
“This will facilitate the coordination and the alignment of all departments and all agencies in government to a single plan so that we are all working in the same direction,” the President pointed out.
The PDP 2023-2028 aims to reinvigorate job creation and accelerate poverty reduction by steering the economy back on the high-growth path and push for efficient economic transformation for a prosperous, inclusive, and resilient society.
NEDA Secretary Arsenio Balisacan, in a release last week, said the PDP “offers an inclusive way forward, identifying the program priorities, strategies, and targets —as well as enabling policies and governance mechanisms—toward a ‘matatag, maginhawa, at panatag na buhay’ for all Filipinos.”
“Addressing inflation and the constraints to rapid economic growth, job creation, and poverty reduction in the new normal requires a whole-of-government and whole-of-society approach,” Balisacan said.
With the approval of the development plan, it will be ready for immediate implementation in 2023.
Ten days ago, NEDA said the domestic economy was robust and would be able to sustain its growth momentum.
In his presentation during the House Committee on Economic Affairs briefing, Balisacan highlighted the focus of the upcoming Philippine Development Plan 2023-2028 for economic transformation.
“While our key economic indicators remain promising, socioeconomic scarring from the pandemic is expected to linger unless effectively addressed. The PDP 2023-2028, set for release later this month, is a plan for deep economic and social transformation, to reinvigorate job creation and accelerate poverty reduction by steering the economy back to its high-growth path,” the NEDA chief said.
He said domestic consumption drove the economy’s recovery and growth.
The further easing of mobility restrictions and resumption of face-to-face classes supported the growth of tourism, industry, services, and other sectors severely affected by the pandemic, Balisacan said.
“For the first three quarters of 2022, the economy expanded by 7.7 percent. This further implies that the target growth of 6.5 to 7.5 percent this year is highly achievable,” he added.
Balisacan also affirmed that the Marcos administration was well-aware of the economy’s domestic and external risks.
These include factors that could disrupt food supply, elevated commodity, and input prices due to geopolitical and trade tensions, the spread of infectious animal diseases, inclement weather, and issues in global value chains, he said.
Elevated inflation is expected to dampen the economy’s faster recovery from the socioeconomic scars, in the form of exacerbated inequality and higher poverty, inflicted by the pandemic, he added.
“Addressing inflation and the constraints to rapid economic growth, job creation, and poverty reduction in the new normal requires a whole-of-government and whole-of-society approach,” Balisacan said.