The challenge of development planning is one of balance. It is a matter of meeting what we call the “change challenge” while continuing the “sustainability challenge.” And while sweeping reforms and stable policies are both essential in maintaining growth and pursuing progress, there are times when we feel as if we are being pulled in opposite directions – do we shake things up or do we continue doing what works? Fortunately, the National Economic and Development Authority (NEDA) is guided by the vision of a prosperous, predominantly middle-class country by 2040.
The Philippine Development Plan (PDP) 2017-2022 promises to lay down the foundation for inclusive growth, a high-trust and resilient society, and a globally-competitive knowledge economy. A year after the approval of the PDP 2017-2022, we have witnessed significant milestones in the thematic areas deemed critical in our pursuit of the AmBisyon Natin 2040. The Socioeconomic Report 2017 features the major groundwork laid down in 2017, along with the recommended priority strategies for 2018 and 2019.
This abridged version of the Philippine Development Plan (PDP) 2017-2022 follows the same outline of the full version of the Plan…
Since embarking on a program of inclusive growth and poverty reduction, the Philippines has gradually become one of the best-performing economies in Asia.
Keeping the 6.3 percent gross domestic product (GDP) growth rate has put us on the higher growth trajectory. The country’s focus on responsible public spending; and maintaining a low and stable inflation1, protected our economy against disruptions caused by natural calamities and the global business cycle. This contributed to the significant increase in the average annual family income2 by 2015.
Moreover, the emphasis on good governance and respect for the rule of law has paid off with the unprecedented level of confidence in the country as an investment and travel destination. The generally stable political environment has been conducive to sustained economic growth and peaceful political transitions.
Republic Act (RA) No. 8182, also known as the ODA Act of 1996, as amended by RA 8555, mandated NEDA to conduct an annual review of the status of all projects financed by ODA and identify causes of implementation and completion delays or reasons for bottlenecks, cost overruns (actual and prospective), and continued project or program viability. The NEDA is required to submit to Congress a report on the outcome of the review not later than June 30 of each year. The ODA Act complemented NEDA Board Resolution No. 30 series of 1992, which instructed the NEDA Investment Coordination Committee (ICC) to review all on-going ODA-funded programs and projects, with the aim of improving ODA absorptive capacity.