President Ferdinand Marcos Jr. pledged to invest in job-generating infrastructure and social protection programs to further lower the country’s poverty rate to 9% in the year 2028.
The country’s chief executive assured the Filipinos that the administration will continue to invest in job-generating infrastructure, social protection programs, health, and education for all Filipinos.
“We will not rest on our laurels but use them to propel us forward into social and economic transformation," Marcos said in a video message on Friday.
Marcos reported that the country’s poverty rate dropped to 15.5 percent which only means that over 2.5 million Filipinos were lifted out of poverty and only 10.9 percent of Filipino families remain poor.
“Our goal is to further reduce this rate to nine percent by 2028 and improve the lives of eight million Filipinos,” Marcos said.
Additionally, Marcos mentioned that the increase in investments and construction under the Build Better More program contributed to the 6.3% economic growth in the second quarter of this year, the highest among the Association of Southeast Asian Nations (ASEAN).
“Bagamat maganda ang datos na ito. Wala itong kabuluhan kung hindi maramdaman ng ating mga kababayan. Kaya’t patuloy ang ating pagbibigay ng sapat at kalidad na trabaho,” said Marcos.
Furthermore, the President reported a decrease in the Philippines’ unemployment rate to 3.1% in June, one of the lowest recorded in the last two decades. Currently, over 50.3 million Filipinos are employed, with 63.8% working in the formal sector.
