President-elect Rodrigo Duterte's economic team presented the incoming administration's 10-point socio-economic agenda during a Monday business forum in Davao City.
GMA News TV news program “State of the Nation with Jessica Soho” reported that the 10-point agenda was presented to around 400 members of the business community.
They points presented were:
- Continue and maintain current macroeconomic policies, including fiscal, monetary, and trade policies.
- Institute progressive tax reform and more effective tax collection, indexing taxes to inflation.
- Increase competitiveness and the ease of doing business.
- Accelerate annual infrastructure spending to account for 5% of GDP, with Public-Private Partnerships playing a key role.
- Promote rural and value chain development toward increasing agricultural and rural enterprise productivity and rural tourism.
- Ensure security of land tenure to encourage investments, and address bottlenecks in land management and titling agencies.
- Invest in human capital development, including health and education systems, and match skills and training.
- Promote science, technology, and the creative arts to enhance innovation and creative capacity.
- Improve social protection programs, including the government's Conditional Cash Transfer program.
- Strengthen implementation of the Responsible Parenthood and Reproductive Health Law.
Incoming Finance Secretary Carlos Dominguez said that although the economy grew under the administration of President Benigno Aquino III, the policies of the previous administration failed to address poverty in the country.
“High GDP growth rate, which was achieved and talked about by the previous administration, did not get them reelected. Did it? Obviously, that’s not what the people want. The people want something else, and that something else they did not do,” Dominguez said.
For incoming Budget Secretary Benjamin Diokno, it was about time to discuss at length the economic plans of the next administration, which will take office beginning July 1.
"Mabilis din naman kasi iyong kampanya eh 'di ba? I guess there was little time to discuss what’s in the mind of the President-elect. So maganda rin siguro na malalaman nila ang mga programa. At saka, during the campaign, halos hindi naman masyadong na-discuss ang economy, 'di ba," Diokno explained.
GMA Network chairman and CEO Atty. Felipe L. Gozon was among those who attended the forum, and after the presentations he said that the plans were good but he would keep a “wait and see” attitude.
“Importante itong economic policies ng bagong administration, eh. That will determine where our country will go in the next six years. Economically, parang maganda. Lahat ng ginagawa nila ngayon, parang tama eh. But let us see. Wait and see,” Gozon added.
On the second day of the business forum, the business community is expected to present their recommendations to the incoming Duterte administration. — Trisha Macas/DVM, GMA News