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Marcos OKs 5-year development plan for Philippine economic recovery

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Raffy Cabristante and Warren de Guzman, ABS-CBN News

<h3>Marcos says PDP aims to make PH an &#x27;upper middle-income country&#x27; by 2025</h3><p>MANILA (<strong>UPDATED</strong>) — President Ferdinand Marcos Jr. on Monday signed an executive order approving and adopting a 5-year Philippine Development Plan (PDP), which the Palace said would set the country&#x27;s roadmap for economic recovery.</p><div class="media-content"><div class="slider-for"><div><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/tvpatrol/01/30/photo1.jpg"/></div><div><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/tvpatrol/01/30/photo2.jpg"/></div><div><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2023/tvpatrol/01/30/photo3.jpg"/></div></div><div class="media-content slider-desc"><div class="item-desc"><p>A copy of the Philippine Development Plan approved by Pres. Ferdinand Marcos Jr.</p></div><div class="item-desc"><p>A copy of the Philippine Development Plan approved by Pres. Ferdinand Marcos Jr.</p></div><div class="item-desc"><p>A copy of the Philippine Development Plan approved by Pres. Ferdinand Marcos Jr.</p></div></div></div><p>The PDP, which will be implemented from 2023 until the end of Marcos&#x27; term in 2028, aims to “bring back the country to a high-growth trajectory and more importantly, enable economic and social transformation for a prosperous, inclusive, and resilient society,&quot; Executive Order No. 14 read.</p><p>The PDP is the second medium-term plan anchored on &quot;AmBisyon Natin 2040,&quot; a long-term development planning guide from 2016 to 2040 that seeks to improve Filipino lives in the next 3 decades.</p><p>Malacañang noted that the Marcos administration&#x27;s 8-Point Socioeconomic Agenda was also incorporated into the plan, which was earlier approved by the National Economic and Development Authority (NEDA) last December.</p><p>“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,&quot; Marcos said.</p><p>&quot;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,&quot; he added.</p><p>During a forum on the plan in Pasay City Monday, Marcos also noted that the PDP will set the Philippines to becoming an upper middle-income country by 2025. </p><p>&quot;We can talk about economic policies and obscure numbers and data as long as we want, but it is the life of the ordinary Filipino... that is deeply personal to all of us. It is something that we know requires action,&quot; he said in his keynote speech in the forum.</p><p>Under the executive order, all government offices, agencies, and institutions—including state universities and colleges and local government units—are required to adopt and disseminate the PDP, as well as undertake efforts to ensure its full implementation. </p><p>They are also required to align their budgets and programs with the strategies identified in the medium-term plan, Marcos&#x27; order also read.</p><p>In line with this, government offices and agencies will be obliged to adhere to the Public Investment Program (PIP) formulation guidelines issued by NEDA when planning their priority programs and projects, as well as submit accomplishment reports. </p><p>Marcos Jr. also mandated NEDA to issue orders or memoranda related to the implementation of the PDP.</p><p>The formulation of the PDP will be completed by the first quarter of 2023, and will be updated every year or when deemed necessary by NEDA, Malacañang said.</p><div><strong>FOOD SECURITY</strong></div><p>The Philippines&#x27; agricultural woes meanwhile took centerstage in a forum discussing the PDP on Monday. Marcos was absent during the forum but NEDA Secretary Arsenio Balisacan said the President is very much involved in addressing the problems of farming which have led to elevated food inflation.</p><p>“In the budget for this year, that is the biggest increase, a huge increase in the budget for agriculture,” Balisacan said. </p><p>Trade Secretary Alfredo Pascual said modernization is key to raising agricultural output. </p><p>“We would like to be able to link industry with agriculture, so we would be adding value to our harvest of agricultural crops,” Pascual said.</p><p>Philippine Chamber of Commerce and Industry President George Barcelon also had a few proposals, including revisions to land reform laws that prevent farms from growing. </p><p>“We have presented to Speaker of the house Romualdez about tweaking our current law. At present we are limited to 5 hectares, which is why our productivity is very low. We have proposed that perhaps if we can increase it to 5 times, to at least 25 hectares,” Barcelon said. </p><p>Balisacan said he cannot say categorically that inflation has already peaked after hitting a 14 year high of 8.1 percent in December. </p><p>&quot;I don’t know about that. but I hope so, because it slowed down, the pace of inflation slowed down last month. Inflation will still be elevated but we hope it will not increase in the rate,“ the NEDA chief added.</p><div><strong>IBON: PDP &#x27;NON-SOLUTION&#x27; TO ECONOMIC CRISIS</strong></div><p>Independent think tank IBON Foundation meanwhile criticized the Marcos PDP.</p><p>&quot;The Marcos Jr. administration’s Philippine Development Plan (PDP) 2023-2028 boldly promises &#x27;economic and social transformation for a prosperous, inclusive and resilient society&#x27; yet falls short as a comprehensive development plan,&quot; the group said in a statement.</p><p>IBON said that Marcos PDP&#x27;s &quot;stubborn insistence on trade and investment liberalization is anachronistic and misguided.&quot;</p><p>The group said the US, China, Japan and the European Union &quot;have been turning to protectionism amid the continued slackening of the global economy.&quot;</p><div><strong>—with a report from Pia Gutierrez, ABS-CBN News</strong></div>

President Ferdinand Marcos Jr. signed the 5-year Philippine Development Plan (PDP), which the Palace said would set the country's roadmap for economic recovery. 

Marcos OKs 5-year development plan for Philippine economic recovery

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Marcos OKs 5-year development plan for Philippine economic recovery

Raffy Cabristante and Warren de Guzman,

ABS-CBN News

Published Jan 30, 2023 02:35 PM PHT

|

Updated Jun 21, 2023 04:04 PM PHT

Read More:

Ferdinand Marcos Jr.

Philippine Development Plan

Malacañang

economic recovery

NEDA

National Economic and Development Authority

Arsenio Balisacan

Alfredo Pascual

DTI

inflation

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