During the third meeting of National Economic and Development Authority (NEDA) Board on February 20, 2017 at Malacanan Palace under the administration of President Rodrigo R. Duterte, Philippine Development Plan 2017-2022 was approved. The Philippine Development Plan (PDP) 2017-2022 is the first medium-term plan to be anchored on a national long-term vision, or AmBisyon Natin 2040, which represents the collective vision and aspirations of Filipinos for themselves and for the country.
“We want the Philippines to be an upper-middle income country by 2022. With the right policies and with mutual trust between government and the citizenry, this is very possible,” Socioeconomic Planning Secretary Ernesto M. Pernia said.
As identified in the Philippine Development Plan 2017-2022, growth in gross domestic product (GDP) is expected to strengthen at 7 to 8 percent in the medium term. Growth is also expected to be more inclusive, where overall poverty rate is targeted to decline from 21.6 percent to 14 percent, and poverty incidence in rural areas to decrease from 30 percent in 2015 to 20 percent in 2022.
The government also identified in the PDP its target of reducing unemployment rate from the current 5.5 percent to 3 to 5 percent by 2022. Included among the targets, also, are higher trust in government and society, more resilient individuals and communities, and a greater drive for innovation.
“By the end of 2022, Filipinos will be closer to achieving their long-term aspirations. Through this PDP, the current Administration will lay a solid foundation for inclusive growth, a high-trust society, and a globally-competitive knowledge economy by grounding its development thrusts on Malasakit, Pagbabago, and Patuloy na Pag-unlad,” Pernia said.