President Ferdinand “Bongbong” Marcos Jr. announced that his administration would continue investing in infrastructure and social protection programs to ensure that the recent economic gains translate into improved lives for Filipinos.
Economic Achievements
In a video statement, Marcos highlighted the following economic indicators:
- 6.3% Economic Growth: Noted as one of the highest growth rates in Southeast Asia for the second quarter of 2024.
- 3.1% Unemployment Rate: A significant drop, marking one of the lowest rates in the past two decades.
- 15.5% Decrease in Poverty Rate: Reflecting an improvement in living conditions, with 2.5 million Filipinos lifted out of poverty.
Commitment to Development
Despite these positive figures, Marcos emphasized that these achievements must translate into tangible benefits for the population. He assured that the government would continue to focus on:
- Job-Generating Infrastructure: Projects aimed at creating employment opportunities.
- Social Protection Programs: Initiatives to support the vulnerable sectors of society.
- Health and Education: Investments to ensure access to essential services for all Filipinos.
“We will not rest on our laurels but use them to propel us forward into social and economic transformation,” Marcos stated.
Vice President Sara Duterte’s Criticism
The video statement followed a critical statement from Vice President Sara Duterte, who accused the government of inaction and lack of loyalty. Duterte expressed concerns over inadequate infrastructure and healthcare systems, emphasizing the need for leadership that cares and has the ability to promote clean governance and development.
Infrastructure and Job Growth
Marcos attributed the economic growth to increased investments and construction under the Build Better More program. He highlighted that the government continues to generate quality jobs, with 50.3 million Filipinos now employed, 63.8% of whom are in the formal sector.
“More of our countrymen now have decent and formal employment and have become part of the middle class,” he said.
Poverty Reduction Goals
The President noted that the reduction in the poverty rate means fewer Filipino families remain in poverty. The government’s goal is to reduce this rate further to 9% by 2028, improving the lives of 8 million Filipinos.