In a recent statement from Malacañang, President Ferdinand R. Marcos Jr. expressed his satisfaction and pride in the economic strides made by the Philippines throughout 2024. Speaking at the 24th National Economic and Development Authority (NEDA) Board Meeting, Marcos highlighted the importance of effectively communicating these achievements to the general public.
Marcos emphasized the need for the government to bridge the gap between its actions and the everyday experiences of Filipinos. He stated, ‘I’m quite satisfied. I’m even proud. I would go as far as saying I’m proud of the things that we have achieved,’ referring to the Philippine Development Report 2024. He stressed the necessity of using clear and understandable language to explain government initiatives to the public.
The President acknowledged that while major reforms and projects are underway, their completion will take time. He urged for greater transparency regarding the long-term benefits of these initiatives, using the example of the Bataan-Cavite Bridge, which is expected to alleviate traffic in Metro Manila and enhance connectivity to Central Luzon and Calabarzon.
Marcos also called for a detailed report on food security initiatives, explaining their significance for Filipino families and their impact on future quality of life.
Looking ahead to 2025, NEDA Secretary Arsenio Balisacan outlined ambitious economic targets. The government aims for a GDP growth of 6 to 8 percent, an increase from the previous year’s target of 6 to 6.5 percent. Additionally, the goal is to maintain inflation between 2 to 4 percent and reduce poverty to below 13.2 percent this year, with a further reduction to 9 percent by 2028.
Balisacan detailed plans to diversify economic growth drivers, promote new technology adoption, and boost productivity. The agency intends to collaborate with Congress to ensure fiscal programs support these growth objectives and to integrate regular monitoring and evaluation into budgeting, planning, and investment programming.