Manila: The Philippines remains one of the fastest-growing economies in the region, but economic growth must translate into better public services and improvements in the lives of Filipinos, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan said Monday.
According to Philippines News Agency, Balisacan emphasized during the Philippine Development Forum 2025 at Edsa Shangri-La, Manila, the need to transform numerical growth into meaningful societal advancements. "We are now midway through the Philippine Development Plan 2023-2028, and just 15 years away from our long-term vision under Ambisyon Natin 2040-a vision of secure, comfortable, and prosperous lives for all Filipinos," Balisacan stated. He underscored the importance of development being measured not just in economic terms but in the real-life improvements experienced by the populace.
He highlighted the government's commitment to fiscal responsibility and the implementation of streamlined processes for project approvals, as well as the enactment of key legislation such as the Public-Private Partnership Code and the E-Governance Act to bolster transparency and accountability.
The Philippine Development Forum (PDF) 2025, spearheaded by DEPDev, functioned as a convergence point for government bodies, development allies, and representatives from diplomatic and business sectors to synchronize efforts, evaluate progress, and formulate a collective strategy for the future. The forum spotlighted the work of four Sectoral Working Groups (SWGs) that identified critical policy and financial priorities.
The forum's recommendations centered on improving human capital through health, education, and social protection enhancements; modernizing agriculture and industry for job creation and competitiveness; constructing resilient infrastructure; and advancing governance reforms. The PDF Steering Committee, through DEPDev, endorsed these outcomes to President Ferdinand R. Marcos, Jr.
World Bank Division Director for the Philippines, Zafer Mustafaoglu, reaffirmed the commitment of development partners like the World Bank to support the Philippines in reaching its development targets. He mentioned that partners are prepared to provide up to USD50 billion over the next three years if requested by the Philippine government, focusing on accelerating service delivery for Filipino citizens.
Mustafaoglu stated that the World Bank would continue to support health, education, agriculture, and infrastructure development, emphasizing the importance of governance and digital transformation to facilitate peace and local government capacity.
"The next three years are decisive. We will act with urgency and focus, working double-time with the government to meet PDP targets and deliver tangible improvements in people's lives," Mustafaoglu concluded.
