• Duterte addresses weak economic, financial policies

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    President Rodrigo Duterte on Thursday said his Administration intends to address the weaknesses of the country’s economic, financial, as well as political policies.

    In his inaugural speech in Malacañang, Duterte said his government policies will be based on the principles articulated by two past presidents of the United States.

    “The test of government is not whether we add more to the abundance of those who have much; it is whether we provide for those who have little,” he said, quoting President
    Franklin Delano Roosevelt, the 32nd US chief executive.

    “And from Lincoln, I draw this expression: ‘You cannot strengthen the weak by weakening the strong; You cannot help the poor by discouraging the rich; You cannot help the wage earner by pulling down the wage payer; You cannot further the brotherhood by inciting class hatred among men,’” he added, referring to Abraham Lincoln, the 16th US President.

    Earlier, Duterte announced a broad outline for his Administration’s 10-point socioeconomic agenda as follows:

    *Continue and maintain current macroeconomic policies, including fiscal, monetary, and trade policies.

    *Institute a progressive tax reform and more effective tax collection, indexing taxes to inflation. A tax reform package will be submitted to Congress by September 2016.

    *Increase competitiveness and the ease of doing business. This effort will draw upon successful models used to attract business to local cities, and pursue the relaxation of the Constitutional restrictions on foreign ownership, except as regards land ownership, in order to attract foreign direct investment.

    *Accelerate annual infrastructure spending to account for 5 percent of gross domestic product, with public-private partnerships playing a key role.

    *Promote rural and value chain development toward increasing agricultural and rural enterprise productivity and rural tourism.

    *Ensure security of land tenure to encourage investments, and address bottlenecks in land management and titling agencies.

    *Invest in human capital development, including health and education systems, and
    match skills and training to meet the demand of businesses and the private sector.

    *Promote science, technology, and the creative arts to enhance innovation and creative capacity towards self-sustaining, inclusive development.

    *Improve social protection programs, including the government’s Conditional Cash Transfer program, to protect the poor against instability and economic shocks.

    *Strengthen implementation of the Responsible Parenthood and Reproductive Health Law to enable especially poor couples to make informed choices on financial and family planning.

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    2 Comments

    1. Juan T. Delacruz on

      And don’t forget Uncle Rody, to revise, amend, or restructure our Labor Laws. Make it more workers’ friendly by allowing workers to unionize and also end the “ENDO”, as you promised during your campaign. Extend your help to the Filipino workers because as of now, the only stable job they can get that give them stability is to go overseas and work. Overseas contract workers have at least one or two years obligation to work with their employers, comparing to the six months of employment in the Philippines. Foreign companies engaged in manufacturing or assembly businesses or anything that requires large number of manpower are always attracted to put their business in the Philippines for two simple reasons.

      Labor is cheap and the regulatory guidelines in disposing their manufacturing wastes are not in compliance with the environmental protection as mandated by the U.N. The country needs a worker friendly Labor Laws and tighten up the Environmental Laws by creating a well crafted regulatory and statutory guidelines to protect the environment, and protecting the health of the people at the same time.

    2. Mayette Akehurst on

      That’s a Brilliant Agenda!!! Congratulation President Rodrigo Duterte