Sec. Ralph Recto, kumbinsido na mababawasan ang kahirapan sa bansa bago matapos ang termino ni PBBM
Sec. Ralph Recto, kumbinsido na mababawasan ang kahirapan sa bansa bago matapos ang termino ni PBBM
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00:00 Because of the government's continued efforts to increase the rate of education and provide assistance to our countrymen,
00:09 Finance Secretary Ralph Recto believes that this is an indication of readiness to use the upper middle income status in 2025.
00:19 This is what Sujin Kim reported.
00:21 Finance Secretary Ralph Recto is confident that the poverty incidence in the country will be reduced to a single digit or 9% before President Ferdinand or Marcus Jr. finishes his term.
00:35 The Philippine economic outlook is the brightest it has ever been.
00:39 He also added that the Philippines is on track to become a trillion-dollar economy like the economic giants China, Japan, and Korea.
00:47 We are expected to outperform ASEAN economies. The forecast for 2025 is even higher.
00:54 In fact, the country's GDP grew by 5.7 percent in the first quarter of the year, higher than China, Indonesia, and Malaysia.
01:03 The government believes that it can use the growth target in the coming years.
01:08 According to Recto, the Philippines will be the 14th largest economy in the world by 2075.
01:16 Because the government continues to support education and social services,
01:21 Recto believes that the Philippines is ready to use the upper middle income status by 2025, especially since the quality and availability of jobs are being targeted.
01:32 Unemployment and unemployment rates continue to decline to historically low levels.
01:38 According to President Marcos Jr., foreign investors who are headed to the country are also eager to use the new mandate.
01:46 According to Recto, the red tape is being torn and replaced by red carpet to spur investment-led growth using these reforms.
01:55 The ease of paying taxes is a giant leap forward in creating an environment that is investor-friendly, simple, and innovative.
02:06 Meanwhile, NEDA Secretary Arsenio Balisacan and Finance Secretary Recto said that they see the price of rice going down to 20 percent by September.
02:18 Sujin Kim for Pambansang TV in Bagong, Philippines.