The National Economic and Development Authority (NEDA) said the government is “on track” in laying down the groundwork for the full implementation of its 2023-2028 Philippine Development Plan (PDP).
During a press briefing in Malacañamg last Tuesday, NEDA Undersecretary Rosemarie G. Edillon said they are now preparing the Philippine Development Report, which will consolidate the accomplishments of government agencies in the enforcement of the PDP.
She noted based on their initial assessment, the government is already “doing okay” in terms of some macroeconomic indicators such as fiscal targets, deficit, debt-to-gross domestic product (GDP) ratios, infrastructure to GDP ratios.
“We are actually on track,” Edillon said.
In his State of the Nation Address (SONA) last July, President Ferdinand R. Marcos, Jr. lauded the country’s infrastructure spending already reached 5 to 6 percent of GDP.
The chief executive, however, expressed concern last August that the country’s debt-to-GDP remains at about 63 percent, which is still slightly higher than the 60 to 62 percent targeted for 2023 under the latest PDP.
Edillon also pointed out some of the short-term interventions they implemented to enforce the PDP, which were deemed as band-aid solutions by the public.
However, she explained the measures were necessary since it serves as the “ground work for robust solutions.”