NEDA highlights need for policies crucial to middle-class society goals
THE National Economic and Development Authority (NEDA) sees policies that support the transition of Filipinos into the middle class and protection from economic shocks as crucial.
“Our first and important step is to address the poverty in the country,” NEDA Secretary Arsenio M. Balisacan said in a statement on Monday.
After the lift from poverty, the government should focus “on mitigating their vulnerabilities to risks by enhancing the resiliency of our jobs and other income opportunities to prevent them from falling back into poverty,” Mr. Balisacan said.
“To sustain a middle-class living standard, Filipinos need adequate income and substantial savings,” NEDA Undersecretary for Policy and Planning Group Rosemarie G. Edillon said.
Additionally, she added that the government must keep commodity prices low and stable, spur employment opportunities, and enhance the employability of Filipinos, build resilience by strengthening social protection.
“The Philippines needs to create capabilities by establishing strong human capital and equipping workers with the skills of the future, integrating approaches to fix foundational challenges, and preparing for technological disruptions,” World Bank Lead Economist Gonzalo Varela said. – Aubrey Rose A. Inosante
