Marcos orders reforms to reach upper-middle income status

President Ferdinand R. Marcos Jr. has directed key government agencies to reinforce the country’s macroeconomic foundation as part of his administration’s push to elevate the Philippines to upper-middle income status, Malacañang said Saturday.

Palace Press Officer and Presidential Communications Office (PCO) Undersecretary Claire Castro said Marcos ordered his administration to intensify reforms in several critical sectors, including infrastructure, education, innovation, and digitalization.

“Ang gagawin ng pamahalaan ay lalong palakasin ang macro-economic foundation at ipagpatuloy pa po ang mga reporma sa infrastructure, education, innovation at digitalization (What the government will do is further strengthen the macroeconomic foundation and continue the reforms in infrastructure, education, innovation, and digitalization),” Castro said.

Marcos also ordered agencies to continue implementing the Ease of Doing Business Act and to pursue the passage of the CREATE MORE Act.

Republic Act No. 11032, or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, aims to streamline processes in government transactions, enhancing service delivery and overall national competitiveness.

Meanwhile, the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act seeks to attract more foreign and domestic investment by updating the 1997 National Internal Revenue Code and strengthening the country’s fiscal incentives framework.

Castro said that public-private partnership (PPP) projects will also be a focus moving forward.

“So makakaasa po tayo na magiging positibo po tayo para po makamit natin, na makarating po tayo sa upper-middle income group sa panahon po ni Pangulong Marcos Jr. (So we can expect a positive outlook as we work toward achieving upper-middle income status during the administration of President Marcos Jr.),” she added.

Castro stressed that the President’s latest directive comes as part of a broader strategy to solidify economic stability and promote inclusive growth across the country.