PRESIDENT Ferdinand “Bongbong” Marcos, Jr.’s economic team, led by the Department of Finance (DOF), will work closely with Congress, the private sector, and civil society in a unified approach to economic recovery and long-term growth.
“We are making a bid for lasting change, and we can only do this if we work in unity. I am confident that we have the right people at the helm and a clear, focused plan that will build a truly inclusive and sustainable economy that the Filipino people deserve,” said Finance Secretary Benjamin Diokno at the Philippine Economic Briefing (PEB) held a day after the first State of the Nation Address (SONA) of President Marcos, Jr.
Anchored on the Marcos administration’s near- and medium-term 8-Point Socioeconomic Agenda, the post-SONA PEB gathered more than 500 members of the business sector, development partners, civil society, and the media to a face-to-face event with Cabinet Secretaries.
The high-level event fleshed out in three panel sessions the points mentioned in the President’s SONA.
Secretary Diokno, Public Works and Highways Secretary Manuel Bonoan, and Social Welfare and Development Secretary Erwin Tulfo were the keynote speakers for the panels on General Economy, Infrastructure and Industry, and Social Infrastructure and Labor, respectively.
Vice President and Education Secretary Sara Duterte, the highest government official in attendance at the event, also fielded questions as part of the panel on Social Infrastructure and Labor.
Other members of the Cabinet who participated in the briefing include Socioeconomic Planning Secretary Arsenio Balisacan, Budget Secretary Amenah Pangandaman, Trade and Industry Secretary Alfredo Pascual, Tourism Secretary Ma. Esperanza Christina Frasco, Information and Communications Technology Secretary Ivan John Uy, Labor and Employment Secretary Bienvenido Laguesma, Environment and Natural Resources Secretary Ma. Antonia Yulo-Loyzaga, Health Officer-in-Charge Maria Rosario Vergeire, and Migrant Workers Secretary Susan Ople.
Bangko Sentral ng Pilipinas Governor Felipe Medalla also attended the event, while the Department of Agriculture, the Department of Transportation, and the Department of Energy sent representatives.
In his keynote speech, Secretary Diokno said that the Marcos administration will expand the private sector’s role in driving economic transformation.
He added that the government will widen the space for civil society to turn the collective aspirations of the Filipino people into reality.
Secretary Diokno said that the economy’s growth prospects are bright, given the projected growth domestic product (GDP) expansion rate of 6.5 to 7.5 percent in 2022, and 6.5 to 8.0 percent from 2023 to 2028.
He said that analysts consider these near-term growth projections to be the highest among the ASEAN+3 countries, which include Japan, South Korea, and China.
