The Department of Finance (DOF) has asserted that it is attainable to lift over eight million Filipinos out of poverty by 2028.
DOF Undersecretary Domini Velasquez is confident that the Philippines could achieve 'upper middle-income country' status, similar to Indonesia, by next year.
"Dapat araw-araw may nakakatikim na parang nag-i-improve iyong buhay natin ‘di ba. So, kumbaga ang gusto natin iyong mga tao talaga natitikman iyon," Velasquez said a news forum in Quezon City on Saturday.
Velasquez emphasized that the Marcos administration is ‘on track’ to reduce the poverty rate to single digits by 2028.
The Undersecretary cited that the country's Gross Domestic Product (GDP) grew by 6.3 percent in the second quarter of 2024, which was notably higher than the 4.3% in the second quarter of 2023.
Additionally, she reported that the unemployment rate is 3.1 percent, down from 5.1 percent before the pandemic.
