In his second State of the Nation Address, President Ferdinand Marcos Jr. repeats a mantra he started last year, ‘The State of the Nation is sound.’ Full story:
MANILA, Philippines – President Ferdinand Marcos Jr. delivered his second State of the Nation Address on Monday, July 24, over a year after being swept into Malacañang by a landslide election win.Thank you. Thank you very much.
Last year, we emphasized certain strong headwinds that were confronting us along with the rest of the world in our post-pandemic economic recovery.Maraming kaganapan sa mundo ang nakapagpagulo sa maayos na takbo ng pandaigdigang merkado. Bukod sa digmaan sa Ukraine, naroon ang patuloy na epekto ng pandemya. Pinalala pa ito ng pagbabawas ng produksyon ng mga bansang pinagkukuhanan natin ng langis.
Our financial system, the nerve center of our economy, remains strong and stable. Banks, the transmission arms of our monetary policy, have strong capital and liquidity positions. According to the Bangko Sentral, inflation is expected to ease further by the close of the year, and projected at 2.9% by 2024. [applause]
Higher revenue collections will be critical in our bid to bolster public investments. Under our fiscal framework, we envision our tax and revenue efforts to further increase, to up to 16.9% and 17.3% by 2028. Sa mahigit pitong libong KADIWA na idinaos sa buong Pilipinas, 1.8 milyon na na pamilya ang nakinabang sa mababang presyo ng bilihin. Sa kabuuan, halos pitong-daang milyon piso ang naging benta ng mga ito, na nakapagbigay ng hanapbuhay sa mga miyembro ng mahigit tatlong libo na kooperatiba at samahan.
To this end, we will seek the support of Congress to amend the Code to guarantee sustainable development of our fisheries sector in harmony with environmental balance. [applause] Pinapalawak natin ang kanilang kaalaman sa makabagong mga teknolohiya at pamamaraan. Isa na rito ang paggamit ng bio-fertilizers, na gawa sa Pilipinas at subok din at maaasahan. Sa balanced fertilizer strategy, gaganda ang ani ng mga magsasaka. Hindi na nila kailangan pang umasa sa mas mahal at imported na fertilizer. [applause]
Mahalaga ang imprastraktura para masuportahan ang may labing-apat na milyong ektarya ng sakahan. Inayos natin ang Geo-Agri map ng mga farm-to-market roads ng buong bansa upang maidugtong mabuti ang mga sakahan sa mga pamilihan. Alinsunod dito, karagdagang anim na raang kilometro ng mga FMRs ang ating nilatag sa iba’t ibang panig ng bansa.
Tayo rin ay naghahanda sa El Niño na nagbabadyang tumama sa mga darating na buwan. Nagsimula na tayong maghanda, at ang mga buffer stocks at ang mga kagamitang patubig ay inihahanda na. Kung kinakailangan, magsasagawa pa tayo ng cloud-seeding upang makapagdala ng ulan. Kasabay ng lahat ng ito, hinihimok din natin ang ating sambayanan na magtipid ng tubig para sa malawakang paghahanda sa banta ng tagtuyot.
Ang tubig ay kasing-halaga rin ng pagkain. Kailangan nating tiyakin na may sapat at malinis na tubig para sa lahat at sa mga susunod na salinlahi. Kasama na rito ang tubig na ginagamit natin para sa sakahan. We have installed six thousand rainwater collection systems across the country, in preparation for the looming dry spell brought about by El Niño.
The flagship projects cover investments in the areas of physical connectivity, water resources, agriculture, health, digital connectivity, and energy. Physical connectivity infrastructure – such as roads, bridges, seaports, airports, and mass transport – accounts for 83% of this program. Our infrastructure spending will stay at 5% to 6% of our GDP. [applause]
Under the Mega-Bridge Program, 12 bridges totaling 90 kilometers will be constructed, connecting islands and areas separated by waters. The Program notably includes the Bataan-Cavite Interlink Bridge [applause] and the Panay-Guimaras-Negros Island Bridges [applause], each spanning 32 kilometers, and also the Samal Island-Davao City Connector Bridge. [applause]
For strategic financing, some of the nation’s high-priority projects can now look to the newly established Maharlika Investment Fund, without the added debt burden. Owing to favorable market conditions, the price of crude oil has stabilized. Since last year, gasoline and diesel prices have gone down by 18% to 29%, respectively.
Since last year, an additional 126 renewable energy contracts with potential capacity of 31,000 megawatts have been awarded. To date, we have over a thousand active projects spread all over the country: 299 of these are solar; 187 are wind; 436 are hydroelectric; 58 biomass;The Malampaya project has been a boon to our country, energizing 20% of Luzon. The renewal of the contract guarantees continued revenues and energy production for another 15 years.
Habang pinapabuti natin ang lagay ng ekonomiya, pinapalakas din natin ang kakayahan ng Pilipino. Ito ay sa pamamagitan ng mahahalagang armas ng edukasyon, magandang kalusugan, at trabaho. Malaking bahagi ng pondo ng pamahalaan ay inilaan para sa mga ito. We are inclusive in our pursuit of social protection. The pension of the military and the uniformed personnel is as important, as urgent, and as humanitarian as that of all other civilian Filipino employees. Efforts are underway to make it fully functional and financially sustainable. We are once again working closely with Congress to ease the transition from the old system to the new one, so as to be able to guarantee that no effects are felt by those in the uniformed services.
Learners will be made more resilient. Our public schools and facilities are being increased and fortified. TVET continues to prove itself to be an empowering educational intervention. There are many examples of how its graduates have gone on to secure competitive technical jobs. Last year, out of the 4.1 million enrolled college students, almost 50% were beneficiaries of the country’s free higher education under the Universal Access to Quality Tertiary Education program.
The Philippines has launched 2 additional satellites into space. Together with the first satellite, they will track weather, predict storms, evaluate soil and water supplies, analyze shifts in population, and be used for traffic management, geo-hazard mapping, risk assessment, and even including security and defense.
The question about the European Union’s recognition of the standards of training of Filipino seafarers has, after 17 years, finally been resolved. [applause] This development now effectively maintains the Filipino seafarer’s distinct competitive advantage in the global shipping labor market. The FSP shall complement our nutrition continuity programs, such as the First 1,000 Days program which ensures nourishment for the first three years of a child’s life. The Supplemental Feeding Program is for our children attending daycare centers. The K-to-6 Program will feed Kindergarten to Grade 6 public school students, who are suffering from wasting and severe malnutrition.
Just last week, we inspected the site of what will soon be a 5-hectare multi-specialty center in Pampanga, which will specialize in pediatrics, cardiology, kidney, and cancer treatment. [applause] Palapit nang palapit na tayo sa hangarin na ang lahat ng Pilipino ay makakakuha ng serbisyong-pangkalusugan: sa ngayon, mahigit 93% na ang kasapi sa PhilHealth.
Tinutugunan natin ngayon ang ating kakulangan sa mga doktor at mga nars, sa pamamagitan ng mga reporma sa edukasyon, patuloy na pagsasanay, at paniniguro sa kanilang kapakanan. As of May this year, our employment rate rose to 95.7%, clear proof of the improvement from the severe unemployment that we experienced during the height of the pandemic. Employment then was at a low of 82.4%.
We have embarked on foreign trips to promote the interests of the country, for peace-building and for mutually beneficial purposes. Those economic missions have yielded an estimated total investment value of 3.9 trillion pesos or 71 billion US dollars with a potential to generate 175,000 jobs. [applause]
As we address our weaknesses and develop competitiveness in other potential areas, we also must play to our strengths. Our competitive advantage must be leveraged. As a “service export powerhouse”, we must continue to nurture the growth of the services sector, particularly the Information Technology-Business Process Management sector and of course the tourism industry.
To create these investment opportunities, we must ensure that an enabling business environment is in place; that there is peace and order, and that the rule of law governs. We will solidify our country’s reputation as an attractive and reliable investment destination. Government must fully embrace digitalization to provide better service to the people, through its vital frontline services and its back-end functions.
Digital payments accounted for 42% of the total retail payments made in 2022, whether by businesses or individuals or by the government. Its high trajectory is now well-positioned to achieve Bangko Sentral’s target of 50% of total retail payments by this year. In response to this call, the Department of Migrant Workers launched last week the Department of Migrant Workers Mobile to make the journey of our Overseas Filipino Workers easier.
With our E-Commerce Roadmap firmly in place, we are poised to take this digitalization drive further and beyond, utilising e-commerce to take full advantage of new technologies. We are engaging with our partners in the international community to ensure a safe working environment for our countrymen. And as we do so, we are also putting in place responsive mechanisms for the social welfare, repatriation, and reintegration of our returning OFWs into the Philippine economy. [applause]
For example, the deployment issue in the Kingdom of Saudi Arabia has now been resolved. And as of today, 70,000 of our OFWs have already been deployed to Saudi Arabia for employment. [applause] Patuloy ang serbisyo ng Pag-IBIG Fund upang makatulong sa kanyang labinlimang milyong miyembro para makabili ng bahay. Sa nakaraang taon, mahigit isang daang libo ang kumuha ng housing loan sa Pag-IBIG, na nagkaka-halaga ng 117 bilyon na piso. Ito ang pinakamataas na bilang sa buong kasaysayan ng Pag-IBIG. [applause]
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