Government to focus on job creation – Balisakan

Outgoing Secretary of NEDA and Social and Economic Planning Carl Kendrick Chua (R) hands over the agency’s flag to new Secretary of Social and Economic Planning Arsenio Balisacan during a handover ceremony held at the NEDA Multi-Purpose Building in Pasig City on Monday, July 4, 2022. Balisacan said the Marcos administration is looking to bring the economy back to post-pandemic levels. PHOTO BY MIKE DE JUAN

SOCIO-ECONOMIC Planning Secretary Arsenio Balisacan said the Marcos administration will focus on restoring the Philippine economy to pre-pandemic levels and will actively engage with stakeholders.

He said President Ferdinand “Bongbong” Marcos Jr. and his economic team are in “substantial agreement” on the overall goal of the new administration.

“We all agreed to quickly revive job creation and reduce poverty by putting the economy back on a path of rapid growth while addressing public debt and soaring food and essential commodity prices,” Balisakan said. “In particular, we are aiming for at least pre-pandemic economic growth through 2028, while remaining more inclusive and resilient.” Balisakan, also head of the National Economic and Development Authority (NEDA), is listed

three specific goals that can be expected from the agency under his leadership: to take the necessary measures to improve the economic performance of the country; expand its active interaction with all stakeholders in matters of political consultation, planning and monitoring; and maintain a culture of openness, transparency and professionalism regarding the direction of national economic policies, plans and programs.

He said that all three are interconnected so that the country can achieve economic growth in these times: “One thing that was especially important to me is that the Philippines is in the eyes of investors and is rising in the rankings based on globally recognized comparative indicators in economy. productivity and institutions, technologies, readiness and fundamentals,” said Balisakan. “Achieving this requires close coordination of national and local policies so that plans and programs properly reflect local development priorities. We will also work closely with Congress to move ahead with priority bills and structural reforms that can remove binding market restrictions. access to essential goods and services while maintaining transparency.”

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Despite the current headwinds and economic uncertainty, Balisacan’s management is committed to achieving even greater success and surpassing the country’s previous performance.

“I look forward to working productively with all of you at NEDA and its associated agencies in the pursuit of sustainable and inclusive growth for the advancement of the Filipino people. As we all support each other, I am optimistic that we can and will diligently carry out our mandate, rising up to address the pressing issues before us head-on,” he said.