2.5-M Filipinos lifted out of poverty under Marcos admin thus far
2.5-M Filipinos lifted out of poverty under Marcos admin thus far; PH records 6.1% growth rate
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00:00Economic development is always at the top of the president's working agenda, and his
00:04finance chief's recommendation toward this end, a steady GDP growth of 6 to 7 percent
00:10until 2028.
00:12And the formula in getting there besides lifting more below the poverty line include growing
00:17the middle class, greater efficiency in customs and tax collection, heightened private-public
00:23partnerships, easing doing and reducing the cost of business are among a few that our
00:27Sujun Kim dwells on in this report.
00:312.5 million Filipinos lifted out of poverty under President Ferdinand R. Marcos, Jr.'s
00:39administration.
00:40Department of Finance Secretary Ralph Recto highlighted that despite this achievement,
00:44efforts are ongoing to elevate the quality of life for still 10 million other Filipinos
00:49living in poverty.
00:51In the last two years of President Marcos, Jr.'s administration, the Philippines recorded
00:56a growth rate of 6.1 percent.
00:58Recto underscored the need to maintain a growth rate within the 6 to 7 percent range in the
01:03next years to achieve a single-digit poverty rate or 9 percent.
01:07Pinaka-mababa ang unemployment rate, pinaka-mababa ang underemployment rate, mas maraming nagtatrabaho,
01:14the middle class is growing.
01:17Special Advisor to the President for Investment and Economic Affairs, Frederick Goh, praised
01:21the Create More bill for its fiscal incentives, which boost foreign direct investments, simplified
01:27VAT provisions, and streamlined VAT refund applications.
01:30Recto cited his office's collaboration with the President and the Bureau of Customs to
01:35enhance tax administration efficiency, aiming to complete their targets within two years.
01:40Meanwhile, public-private partnerships, or PPPs, have been instrumental in funding flagship
01:45infrastructure and energy programs, supporting a quarter of all projects under the Build
01:50Better More program, amounting to P9 trillion in investments.
01:54It is wise for government to use private sector balance sheet.
01:59We will be able to get efficiencies of the private sector.
02:03On the other hand, Department of Budget and Management Secretary, Mina Pangandaman, noted
02:07government heads submitted a total of P9.2 trillion worth of projects and budget proposals.
02:14We are happy to note that our cabinet secretaries or department secretaries are finally focusing
02:21and prioritizing their projects and programs, thus the big amount that they proposed.
02:25We thank them for carefully prioritizing their projects.
02:31She also lauded the signing of RA12009, a new procurement method that ensures both cost
02:38and quality are ideal to buyers.
02:40It's the biggest anti-graft and corruption reform in our modern history.
02:47Secretary Pangandaman also says the Green Procurement Program is in the works and will
02:51soon be introduced.
02:52Also, the Department of Trade and Industry is supporting 130 startups in Agritech, Fintech
02:58and Edutech, aiming to create more job opportunities in the process.
03:03We need startups to promote innovation and adoption of technology in our economy in order
03:10to support the progress.
03:13The DTI is taking the lead in promoting startups.
03:17Secretary Pascual says reforms in the capital market, coupled with the benefits of leveraging
03:22on green lanes, have led to P3 trillion worth of investments in renewable energy, infrastructure,
03:28food security and manufacturing.
03:31Which we can speed up the implementation of projects being done through our One Stop Action
03:38Center.
03:39We've been successful.
03:40To reduce costs of doing business, Executive Order No. 41 eliminated pass-through fees
03:46on national roads and encouraged local government units to cease collecting fees on local roads.
03:52The Anti-Red Tape Authority, or ARDA, reported over a thousand municipalities have automated
03:57their business transactions, promoting ease of doing business.
04:01The ease of doing business has been promoted.
04:05No less than the President mentioned and said this, that every government agencies
04:09and LGUs must promote the ease of doing business.
04:13While business registrations can be completed in 30 minutes, the agency seeks cutting it
04:18by half by the end of the year.
04:21Soojin Kim from the National TV Network for the New and Better Philippines.