The Aquino Administration’s Socio-economic Agenda
President Benigno S. Aquino III’s Social Contract with the Filipino People envisions a country that has achieved inclusive growth and is characterized by rapid, sustained, and broad-based economic growth that is focused on creating more jobs and new opportunities to achieve full employment, and on significantly reducing poverty.
In order to attain this vision, the development strategies will be directed towards attaining a high and sustained economic growth, providing equal access to development opportunities and formulating effective social safety nets.
To help achieve the high and sustained economic growth needed to generate productive employment opportunities, the Government will provide an enabling environment for private sector investment through a stable macroeconomic environment and sound and consistent public policies. Measures to increase the country’s competitiveness will be implemented by investing in infrastructure, and improving governance by reducing the cost of doing business, enforcing the rule of law, ensuring the effective and efficient delivery of public service, and improving the investment programming processes. To achieve a higher growth path over the medium term, the Government will focus on improving productivity and creating new opportunities for full employment and efficient allocation of resources. The levels of private investment and entrepreneurship, especially among micro, small and medium enterprises (MSME) will also be raised.
The Government will ensure that different geographical areas, income levels and social spectra will be given equal access to development opportunities, so that the expansion of employment opportunities truly translates into poverty reduction. This will entail more quality investment in human capital, especially in education, primary health care and nutrition, and other basic social services. The Government will also level the playing field through equal access to infrastructure, credit, land, technology, and other productive inputs. And the Government will implement unbiased and facilitative policies that promote competition as it improves governance and strengthens institutions.
In gearing up for a high sustained growth, the Government will provide effective and responsive social safety nets to protect and support those who are unable to immediately participate in this new economic growth process. These social safety nets will be formulated and implemented to effectively address the issue of poverty, as well as the devastating effects of climate change.
