Aquino: Growth must be inclusive

President Benigno Aquino III. FILE PHOTO

MANILA, Philippines—President Benigno Aquino III on Thursday opened the 14th annual conference of the Global Development Network (GDN) with the statement that economic growth must be “inclusive.”

“We can’t have a society where a few flourish, and the rest must make do with crumbs. We must have inclusive growth,” said Mr. Aquino, citing the conditional cash transfer (CCT) program as one of the administration’s flagship projects that could allow the poor to benefit from a strong economy.

Mr. Aquino vowed that the next phase of “continued interventions” for the “poorest of the poor” over the next three years would include mass housing, job creation, tourism and agriculture.

“The next three years will see continued interventions on the poorest of the poor but also a focus on the vulnerable but emerging sectors of society, all made possible by prudent public finance policies and honesty in public administration; by continuing efforts to build mass housing on site and not in far-flung areas; by creating durable jobs in industry, tourism and agriculture,” the President said.

The GDN is an international organization that builds research capacity and supports researchers in developing and transitioning countries to generate and share high-quality applied social science research. The GDN’s goal is to inform policymakers in advancing social and economic development.

The conference is being held at the Asian Development Bank headquarters in Mandaluyong City.