Marcos vows to continue investing in jobs, social programs amid growth

MANILA, Philippines — President Ferdinand Marcos Jr. on Friday vowed to sustain the country’s economic momentum and further improve the lives of Filipinos by continuing to invest in job-generating infrastructure, social protection programs, health, and education.

In a video statement released through his social media, Marcos cited several “good news” pertaining to the country’s economy, poverty, and unemployment rates.

Marcos then vowed that the government would do what it could to maintain these developments and further improve the lives of common Filipinos.

“Baliwala lahat ng ating ginagawa kung walang pagbabago sa buhay ng mga Pilipino (Everything we do would be meaningless if there was no change in the lives of Filipinos),” he said.

“So I assure you, this government will continue to invest in job-generating infrastructure, social protection programs, health and education for all Filipinos. We will not rest on our laurels but use them to propel us forward into social and economic transformation,” he said.

Among the developments Marcos cited is the 6.3 percent growth in the country’s gross domestic product (GDP) in the second quarter of 2024, which he attributed to the investments and constructions under the Build Better More program.

READ: Philippine economy expands 6.3% in Q2, says PSA

He also mentioned the drop in the unemployment rate to 3.1 percent, stating that over 50.3 million Filipinos are now employed, with 63.8 percent of them belonging to the formal sector.

Marcos also acknowledged the drop in poverty rate to 15.5 percent and reiterated his vow during his first State of the Nation address to reduce it to nine percent by 2028.

READ: Bongbong Marcos admin aims to cut poverty rate to 9% by end of term – DOF chief