PH gov't bats for inclusive economic growth: NEDA

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Red onions are sold at the Paco Market in Manila on December 28, 2022. Red Onion prices have reached as high as P600 a kilo. Jonathan Cellona, ABS-CBN News" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/life/01/09/20221228-red-onions-market-jc-7.jpg"/><figcaption>Red onions are sold at the Paco Market in Manila on December 28, 2022. Red Onion prices have reached as high as P600 a kilo. <em>Jonathan Cellona, ABS-CBN News</em></figcaption></figure></div><p><br/>MANILA - The newly released Philippine Economy Development Plan aims to foster growth that&#x27;s inclusive and will benefit every Filipino, National Economic and Development Authority Secretary Arsenio Balisacan said on Monday.</p><p>This means the economic growth must come with better jobs to improve the lives of Filipinos including the poor, Balisacan told ANC.</p><p>&quot;We have outlined in our Philippine Economy Development Plan, an economy that is beneficial for all Filipinos. What that means is that growth is accompanied by generation of better and higher quality jobs, not just more jobs but most importantly better and higher quality jobs,&quot; Balisacan said.</p><p>&quot;The growth has to be inclusive, associated with improvement in the quality of jobs and low inflation and that way we can raise everybody’s welfare,&quot; he added.</p><p>He said the plan also includes addressing current headwinds such as elevated inflation that&#x27;s hurting the poorest sectors.</p><p>Inflation in December reached 8.1 percent due to the higher prices of vegetables including onions. Vegetable inflation reached 32.4 percent for the month, the highest since February 1999. </p><p>Among the targets outlined in the recent Philippine Economy Development Plan are:</p><p>• An annual GDP growth of 6.5 to 8 percent from 2024 to 2028<br/>• PH to be ranked among top 33 in the global competitiveness index by 2028 (#45 in 2019)<br/>• Lower unemployment rate of 5.3 percent to 6.4 percent in 2024, 4.5 to 5 percent from 2026 to 2028<br/>• Gross national income per capita to be $6,044 to $6,571 by 2028 ($3,640 in 2021)<br/>• Lower poverty incidence rate of 16 to 16.4 this year, 8.8 to 9 percent or single-digit by 2028</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/01/22/philippine-economy-still-resilient-says-bsp">Philippine economy still &#x27;resilient&#x27; following strong growth, says BSP</a></li>	<li><a href="https://news.abs-cbn.com/business/01/05/23/inflation-quickens-further-to-81-percent-in-december">Inflation quickens further to 8.1 percent in December on back of higher vegetable prices</a></li>	<li><a href="https://news.abs-cbn.com/business/01/06/23/marcos-on-phs-81-inflation-rate-rate-of-increase-slowing">Marcos on PH’s 8.1 inflation rate: ‘Rate of increase slowing’</a></li></ul><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=2409424" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

The newly released Philippine Economy Development Plan aims to foster growth that's inclusive and will benefit every Filipino, National Economic and Development Authority Secretary Arsenio Balisacan said on Monday.

PH gov't bats for inclusive economic growth: NEDA | ABS-CBN

Halalan 2025

Entertainment

News

Metro.Style

Sports

More

Traffic

Horoscope

Business

PH gov't bats for inclusive economic growth: NEDA

PH gov't bats for inclusive economic growth: NEDA

ABS-CBN News

Published Jan 09, 2023 11:59 AM PHT

|

Updated Jan 09, 2023 01:41 PM PHT

Read More:

PDP

economy

Philippine economy

NEDA

jobs

job generation

inflation

food prices

poverty incidence

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.