When President Ferdinand Marcos Jr. assumed office in June 2022, he inherited not only the reins of government but also a formidable fiscal burden — a...
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The Marcos administration has signaled a commitment to fiscal discipline through improved tax administration, enhanced revenue mobilization, and a more strategic allocation of public resources. The push for digitalization in tax collection, rationalization of government expenditures, and the pursuit of public-private partnerships are all key tools in this strategy.
Equally crucial is the need to maintain — and even expand — investments in education, health, and social protection. For millions of low-income families, government support is their lifeline. Amid high inflation and global uncertainty, austerity measures must not come at the expense of social cohesion. Programs like the Pantawid Pamilyang Pilipino Program , universal healthcare, and targeted subsidies must be preserved to prevent deepening inequality.
The World Bank classifies the Philippines as a lower-middle-income economy. To graduate to upper-middle-income status — a goal the Marcos government has revived — the country must raise its gross national income per capita beyond the current threshold of around $4,500. Sustained GDP growth, job creation, and poverty reduction are all preconditions.
Debt Dilemma Attaining Development Goals
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