Marcos proud, satisfied with 2024 economic feats

By Darryl John Esguerra, Philippine News Agency

Marcos, during the meeting, highlighted the need for clearer communication. (File Photo: Bongbong Marcos/Facebook)

MANILA – President Ferdinand R. Marcos Jr. expressed pride in the Philippines’ economic accomplishments in 2024, underscoring the need to communicate these successes more effectively to the public.

During the 24th National Economic and Development Authority (NEDA) Board Meeting in Malacañang on Thursday, Marcos acknowledged the significant progress made but stressed that more work is needed to connect government actions with the lives of ordinary Filipinos.

“I’m quite satisfied. I’m even proud. I would go as far as saying I’m proud of the things that we have achieved,” Marcos said, referencing the Philippine Development Report 2024.

Marcos, during the meeting, highlighted the need for clearer communication.

“We have to make it known to people that this is what we are doing. So, it has to be in a language that is easily digestible and makes sense to Juan dela Cruz. We’re falling behind in making the connection between what we are doing to the lives of ordinary Filipinos,” he said.

While recognizing that the government’s ongoing major reforms and projects may take years to complete, Marcos called for more transparency about their long-term benefits.

He cited the Bataan-Cavite Bridge, aimed at easing Metro Manila’s traffic and improving access to Central Luzon and Calabarzon, as an example.

Additionally, the President stressed the need for a comprehensive report on initiatives ensuring food security to explain how these steps will benefit Filipino families, why they are crucial for the future, and how they improve the overall quality of life.

2025 targets

NEDA Secretary Arsenio Balisacan, in a video presentation, reiterated the government’s commitment to sustained economic growth and inclusivity.

For 2025, the government aims for a gross domestic product growth target of 6 to 8 percent, up from last year’s 6 to 6.5 percent.

The government also aims to keep inflation between 2 to 4 percent and reduce poverty below 13.2 percent this year, with a target of 9 percent by 2028.

Balisacan outlined plans to diversify and develop new growth drivers, foster the adoption of new technologies, and enhance economic productivity.

The agency also plans to work with Congress to ensure fiscal programs support growth and that regular monitoring, evaluation, and integration into budgeting, planning, and investment programming occur.