Manila: The government remains focused on creating quality jobs and reducing poverty as it pursues sustained economic growth, Malaca±ang said Tuesday. Speaking to reporters, Palace Press Officer Claire Castro stated that the government's economic strategy centers on sustaining growth while ensuring that more Filipinos benefit from expanding opportunities.
According to Philippines News Agency, Castro highlighted that the government's main thrust is to grow the economy while creating high-quality jobs, investing in skills and other productivity-enhancing measures, addressing gaps in social protection systems, and building national and local state capacity toward accessible, resilient public services. This statement aligns with the views expressed by Department of Economic, Planning, and Development Secretary Arsenio Balisacan.
The statement was issued following a World Bank report indicating that nearly three in 10 Filipinos remain vulnerable to falling into poverty. The World Bank's assessment identified the Philippines as one of the world's fastest-growing middle-income economies over the past 15 years, with growth described as 'broadly pro-poor,' averaging 3.5 percent a year among the top quartile of middle-income countries.
Moreover, the World Bank noted that the Philippines could potentially end poverty and become a predominantly middle-class society by 2040, provided comprehensive reforms are implemented to address job creation barriers and strengthen household resilience.
Castro reiterated the government's commitment to supporting workers and their livelihoods despite ongoing economic challenges. She also welcomed the decrease in the country's unemployment rate from 5.8 percent in March to 4.7 percent in April, noting that the services sector significantly contributed to employment growth during this period.
'Kahit medyo nag-increase po ang employment rate, patuloy pa rin po ang ating gobyerno sa paglilikha po ng dekalidad na trabaho at pagbibigay ng mga livelihood projects sa ating mga kababayan (Even as the employment rate has improved, the government continues to create quality jobs and provide livelihood projects for our citizens),' Castro emphasized.
She further stated that the administration will sustain its efforts to expand employment and livelihood opportunities as part of its broader development agenda. Additionally, she urged the public to remain optimistic as the government endeavors to sustain economic gains and improve living standards.
