House leader says 9% poverty rate by 2028 ‘doable’

The House of Representatives on Monday adopted House Concurrent Resolution (HCR) No. 2 which supports the Marcos administration's 2022 to 2028 Medium Term Fiscal Framework that aims to reduce poverty incidence to 9% by 2028, among other targets.

The other targets set under the 2022-2028 Medium-Term Fiscal Framework include:

• 6.5-7.5 % real GDP growth in 2022
• 6.5-8% real GDP growth annually between 2023 to 2028
• 3% national government deficit to Gross Domestic Product ratio by 2028
• less than 60% national government debt-to-GDP ratio by 2025
• at least $4,256 gross national income per capita to attain upper middle­ income status

"Hindi naman tayo masyadong nangangarap. These are not unreasonable targets. From 2010 to 2019, we had at least 6% economic growth. Nagkataon lang talaga na nagkaroon ng pandemya at na-disrupt ang ating growth trajectory," said Marikina Representative Stella Quimbo, vice chairperson of the House appropriations panel who defended the resolution before the plenary.

(We are not dreaming here. It is just unfortunate that the pandemic disrupted our economic growth.) 

"Assuming that we are finally able to reopen our economy, panatag naman ang ating loob na babalik tayo sa dating growth trajectory natin," Quimbo, an economist, added.

House Deputy Minority Leader France Castro of Alliance of Concerned Teachers party-list, however, doubted the feasibility of reducing poverty incidence at an unprecedented low of 9% by 2028.

"How can we set this target when history shows that our poverty incidence never went as low as a single digit poverty incidence rate?" Castro said.

Another opposition lawmaker Arlene Brosas of Gabriela party-list argued that optimism should be anchored on helping the poor and taxing the rich.

"It is not bad to be optimistic as  long as it is based on grounded implications. But these projections could result in higher taxes and bloated revenue programs, and these have implications in allocating budget for programs needed by our people," Brosas pointed out.

"Sa panahon pong bugbog na bugbog na ang sambayanang Pilipino, di makatwiran na ibunton ang pagbabayad utang sa kanila. Sa halip, dapat na ipataw ang super rich tax sa mga bilyonaryo kasi hindi ito magdudulot ng pagkagutom at pagkalugi nila. Bilyon bilyon ang agarang malilikom rito,"Brosas added.

(The Filipino people are already burdened with rising prices of commodities. It is unjust to pass the responsibility of reducing our debts to them. The government should tax the rich more because this won't make them hungry or bankrupt.) 

Quimbo, however, maintained that the projections are doable.

"Hindi ito hinugot lamang sa langit. These projections are well-founded and could be discussed more in detail during the budget deliberations," Quimbo said.

(These projections were not plucked out of thin air.)

"This is a forward looking document and we are open to recalibrating it when necessary," Quimbo added.—LDF, GMA News