The state planning agency National Economic and Development Authority (Neda) will shepherd the crafting of a 10-year roadmap to recovery from the COVID-19 pandemic and stay on track of the Philippines’ long-term goal to wipe out poverty by 2040.
Neda Undersecretary Rosemarie Edillon told the joint economic briefing held by foreign business groups last Tuesday that the plan moving forward involved a time frame of about 10 years for the next socioeconomic blueprint to follow the Duterte administration’s Updated Philippine Development Plan (PDP) 2017-2022.
The revised 2017-2022 PDP showed a less ambitious target to reduce poverty incidence to 15.5-17.5 percent of the population next year, compared to the 13-15 percent goal at the start of this administration’s term, as the health and socioeconomic crises wrought by COVID-19 dialed back gains made prepandemic.
Edillon’s presentation called the next plan the “Philippines’ Economic Recovery and Resiliency Plan 2022-2032.”
The country’s medium-term development plans usually cover only six years or within the term of one administration, although the government had adopted the AmBisyon Natin 2040 long-term vision which was aimed at making the country a prosperous, middle-class society where no one would be poor 19 years from now.
Under AmBisyon Natin 2040, the Philippines aimed to triple the Filipinos’ per capita income to $11,000 by sustaining at least 6.5-percent annual gross domestic product growth alongside the implementation of policies that would make it a high-income country by 2040.
Edillon and Socioeconomic Planning Secretary Karl Chua did not reply to queries why Neda was eyeing a longer time frame for the next development plan.
Edillon told the forum that the forthcoming plan would focus on recovery from the pandemic while pursuing remaining reforms to attain the AmBisyon Natin 2040 goal.
She said the plan would focus on strengthening the following sectors: food systems, health systems, learning systems, transport and logistics, wholesale and retail trade, and the financial system.
The upcoming development agenda will also be geared toward digital transformation, research and development and innovation in light of the “new normal” brought about by the COVID-19 pandemic, Edillon said.
It will ensure efficiency, equity, sustainability and resiliency hinged on good governance as well as peace and security, she added.
Also, Edillon said the new plan would push for the enactment of the following reforms: easing of financial capital constraints caused by the pandemic; increasing strategic investments, including foreign direct investments; easing of human capital constraints; improving resource management governance; improving environmental governance; and expanding market linkages for micro, small and medium enterprises. INQ