The government remains focused on creating quality jobs and reducing poverty as it pursues sustained economic growth, Malacañang said Tuesday.
Speaking to reporters, Palace Press Officer Claire Castro said the government’s economic strategy centers on sustaining growth while ensuring that more Filipinos benefit from expanding opportunities.
“The government’s thrust is to grow the economy while creating high-quality jobs, investing skills and other productivity-enhancing measures, addressing gaps in social protection systems, and building national and local state capacity toward accessible, resilient public services,” Castro said, citing the statement of Department of Economic, Planning, and Development Secretary Arsenio Balisacan.
The statement was issued after the World Bank reported that nearly three in 10 Filipinos remain vulnerable to falling into poverty.
Based on the World Bank’s assessment, the Philippines has become one of the world’s fastest-growing middle-income economies over the past 15 years, with growth described as “broadly pro-poor, averaging 3.5 percent a year among the top quartile of the middle-income countries.”
The World Bank also noted that the Philippines can end poverty and become a predominantly middle-class society by 2040, if comprehensive reforms are implemented to address the barriers to job creation and strengthen household resilience.
Castro stressed that the government remains committed to supporting workers and livelihoods, despite continuing economic challenges.
She also welcomed the drop in the country’s unemployment rate from 5.8 percent in March to 4.7 percent in April.
She noted that the services sector contributed significantly to the increase in employment during the period.
“Kahit medyo nag-increase po ang employment rate, patuloy pa rin po ang ating gobyerno sa paglilikha po ng dekalidad na trabaho at pagbibigay ng mga livelihood projects sa ating mga kababayan (Even as the employment rate has improved, the government continues to create quality jobs and provide livelihood projects for our citizens),” Castro said.
She said the administration will sustain its efforts to expand employment and livelihood opportunities as part of its broader development agenda.
She urged the public to remain optimistic as the government works to sustain economic gains and improve living standards. (PNA)