PDP 2023-2028

• The Philippine Development Plan 2023-2028 aims for economic and social transformation
• The vision is for the Philippines to be a prosperous, predominantly middle-class society by 2040
• Improvements have been made in key indicators, but the COVID-19 pandemic has caused setbacks
• Lessons learned from the pandemic include the importance of maintaining robust macroeconomic fundamentals, strengthening interlinkages, engaging with various sectors, and fast-tracking investments
• Immediate relief measures during the pandemic included the enactment of Bayanihan 1 and Bayanihan 2, providing support to Filipino families and businesses
• Lockdowns led to a record-high budget deficit and increased borrowing, with government expenditures on COVID-19 response-related costs
• Significant social sector losses due to the pandemic include learning losses, low routine vaccinations, and healthcare-seeking behavior slowdown
• The poorest and most vulnerable were disproportionately affected by the pandemic, with poverty incidence increasing to 18.1% in 2021
• Strategies from previous years that contributed to poverty reduction include sustained economic growth, increased human capital investments, and expansion of social programs like the Pantawid Pamilyang Pilipino Program (4Ps)
• Government spending on infrastructure, education, and health increased significantly from 2013 to 2019
• Fiscal health was improved through tax reforms like the Tax Reform for Acceleration and Inclusion (TRAIN)
• Recent reforms include the Rice Tariffication Law, amendments to foreign investment laws, and the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE)
• Social sector reforms like the Philippine Identification System (PhilSys Act) and Universal Health Care Act are still in progress
• Global trends impacting the Philippines include the aging global population, increasing demand for healthcare workers, and headwinds in global economic recovery
• Philippine Development Plan 2023-2028:

  • Plan for deep economic and social transformation to accelerate job creation and poverty reduction
  • Based on President Ferdinand R. Marcos Jr.'s 8-point socioeconomic agenda
  • Focus on digitalization, servicification, dynamic innovation ecosystem, enhanced connectivity, greater collaboration between local and national government, and partnership with the private sector
• Reconfiguring public-private partnerships (PPP) can help address weak competition environment and the digital divide
• Tight fiscal space provides rationale for favoring PPPs in enhancing and upgrading infrastructure
• Larger private sector participation in housing, transport, digital, and other large infrastructure can free up public funds for investments in human capital
• Philippine Development Plan 2023-2028 aims for economic and social transformation for a prosperous, inclusive, and resilient society
• Strategies in the plan are organized to develop and protect capabilities of individuals and families, transform production sectors, and foster an enabling environment
• Health care strategies focus on building an ecosystem for health care providers and promoting healthy choices
• Opportunities for transformative lifelong learning will be expanded by improving education quality and enhancing teacher competencies
• Livable communities will be established to offer equitable, inclusive, and resilient opportunities for human well-being
• Social protection systems will be strengthened with improved targeting and digitalized processes
• Efforts will be made to ensure food security, proper nutrition, and reduce vulnerabilities among the most vulnerable
• Training modules and curricula will be continuously updated to match emerging in-demand occupations
• Employment facilitation services will be enhanced to include career development support and active labor market information system
• Agriculture and agribusiness will be modernized to improve production efficiency and expand business partnerships
• Industry will be revitalized by expanding the domestic production and supplier base
• Services sector will be reinvigorated by promoting tourism, culture, creative sector, and IT-BPM
• Establishing a dynamic innovation ecosystem is a key part of the transformation agenda
• Trade and investments will be promoted to improve competitiveness, increase demand for Philippine products, and generate more jobs
• Government will ensure a healthy regulatory environment and a level playing field for businesses
• Macroeconomic stability will be ensured through enhanced financial sector health and sound fiscal management
• Investments in infrastructure will be encouraged through public-private partnerships to improve connectivity and reduce costs
• Efforts will be made to ensure peace, security, and an efficient justice system in the Philippines
• Bureaucratic efficiency and good governance will be improved to maximize the benefits of public spending
• Collective action will be taken to mitigate the climate crisis and strengthen resilience to disasters
• Development agenda aims to prioritize poverty reduction and inclusive growth to achieve upper middle-income country status by 2025
• Philippine Development Plan 2023-2028