Marcos Approves PH Development Plan For 2023-2028

Malacañang said President Ferdinand Marcos, Jr. has approved the Philippine Development Plan for 2023 to 2028.

Press Undersecretary Cheloy Garafil said the development plan will seek to create more jobs and reduce the poverty rate by focusing on high economic growth.

Implementation is set for next year and will “push for efficient economic transformation for a prosperous, inclusive and resilient society,” Malacañang added.

“I’m happy to announce that today, at the NEDA board meeting, we approved the Philippine Development Plan for 2023 to 2028 and this sets out the framework of the development plan for the Philippines and we have included all of the priority areas,” Marcos said.

“This will facilitate the coordination and the alignment of all departments and all agencies in government to a single plan so that we are all working in the same direction,” he added.

The National Economic and Development Authority (NEDA) crafted the development plan to also improve the investments in the Philippines through quality employment.

“This is to transform the economy and make it more inclusive and resilient to unexpected shocks. The Plan will also be drafted with short-term issues in mind,” NEDA said.

Meanwhile, Socioeconomic Planning Secretary Arsenio Balisacan said the development plan seeks inclusive development by mapping the administration’s program priorities, strategies, and targets

“Addressing inflation and the constraints to rapid economic growth, job creation, and poverty reduction in the new normal requires a whole-of-government and whole-of-society approach,” Balisacan said.

According to NEDA’s website, a Philippine Development Plan is the government’s “overall guide in development planning for six years.” 

It will also guarantee that the plan will be coordinated by the Chief Executive with different government agencies, the private sector, and local government units.

NEDA explains the importance of a development plan to “ensure that government resources and investments are channeled to programs, projects, and activities that best achieve the country’s goals and objectives.”

The approval of the 6-year development plan came weeks after news of the 8% inflation rate in November was announced.

Source: ABS-CBN