News Release

Budget chief sees ‘remarkable growth’ under PBBM admin

MANILA – There is a “remarkable growth” in the country since President Ferdinand R. Marcos Jr. assumed office in June 2022, Budget Secretary Amenah Pangandaman said Monday.

In a dzRH interview, Pangandaman said Marcos and his Cabinet have carried out many reform initiatives to propel economic development and improve the Filipino people’s lives.

“Napakasipag po ng ating Pangulo (Our President is very hardworking),” she said. “Itong nakaraang isang taon, nagsimula po ang Pangulo at ang buong Gabinete ng napakaraming reporma kaya po nagkaroon tayo ng remarkable growth (In the past year, the President and the entire Cabinet made many reforms, that’s why we have remarkable growth).”

Pangandaman said she believes that making the Philippines an investment hub for local and foreign businesses is Marcos’ “biggest achievement.”

“Kasi po ‘pag tayo po ay makilala ng ibang bansa, ibig sabihin po mas maraming investment opportunities at business opportunities po na darating sa ating bansa. ‘Pag marami pong opportunities na ganyan, ito po ay nangangahulugang additional na trabaho po para sa ating mga mamamayan (If other countries recognize us, that translates to many investment opportunities and business opportunities in our country. If there are many opportunities, there will be additional jobs for our countrymen),” she said.

Pangandaman noted that under the Medium-Term Fiscal Framework (MTFF), the government aims to achieve 6.5 percent to 7.5 percent gross domestic product (GDP) growth in 2022; a 9 percent or single-digit poverty rate by 2028; 3 percent national government deficit-to-GDP ratio by 2028; and less than 60 percent national government debt-to-GDP ratio by 2025.

She added that the Marcos administration is determined to transform the Philippines into an upper-middle-income country.

“Noong nagsimula ang administrasyon, meron po tayong MTFF, may plano po tayo, may stratehiya, at may roadmap tayong ginagamit (When this administration assumed office, we came up with the MTFF, plan, strategy, and roadmap),” Pangandaman said.

“Bahagi po ito ng ating (This is part of our) agenda for prosperity. Kami po dito sa DBM (Department of Budget and Management), we are here po to support the President para po sa pagpapagawa ng budget na makakatugon po sa mga pangangailangan ng ating mga kababayan (to come up with a budget that would attend to the needs of our countrymen).”

She also bragged about the improving figures in terms of economic growth, prices of basic commodities, and employment.

“We are trying our best, we are doing our best po para mapaunlad ang ating ekonomiya. At makikita po natin sa numero (to improve our economy and this reflects the numbers),” she said.

Asked as to what she expects the President to mention in his second State of the Nation Address (SONA), Pangandaman said he may include the inputs from his Cabinet.

Marcos is set to deliver his SONA at the Batasang Pambansa Complex in Quezon City on Monday afternoon. (PNA)