Reforms that enable structural transformation and strengthen human capital development are the foundations of a more resilient economy in a post-pandemic world, said the National Economic Development Authority (NEDA).
In his keynote speech during the opening program of the 7th Annual Public Policy Conference (APPC) hosted by the Philippine Institute of Development Studies (PIDS) on September 14, 2021, Socioeconomic Planning Secretary Karl Kendrick T. Chua emphasized the significance of the agriculture sector in the country’s development story.
“Focusing on the theme, ‘Reset and rebuild for a better Philippines in the post-pandemic world,’ this year’s Development Policy Research Month challenges us to plan for a more resilient economy. To achieve this, we need to focus on our agriculture sector, which is the foundation of any country’s structural transformation,” said Chua.
According to the NEDA chief, the Duterte administration has enacted several reforms and invested trillions in social services and infrastructure to enable proper structural transformation and strengthen human capital development of the country.
For instance, the Rice Tariffication Law lowers rice prices for all Filipino consumers, especially the poor, and enhances the productivity of rice farmers through the Rice Competitiveness Enhancement Fund.
“After the Rice Tariffication Law, rice ceased to be one of the top contributors to inflation and has been negative for most of the past 28 consecutive months since May of 2019. This allows the people, especially the poor, to more adequately meet their daily food and dietary needs, especially amid the pandemic. At the same time, rice production increased to 3.5 million metric tons in the third quarter of 2020, representing a 15 percent growth compared to the same period in 2019,” he explained.
Meanwhile, Chua also highlighted the importance of accelerating the implementation of the Philippine Identification System or the national ID program to enhance the government’s ability to deliver various social services. He also noted that the national ID will enable Filipinos, especially the poor, to open bank accounts where they can directly receive cash transfers.
As of September 10, over 42 million Filipinos have registered for step 1 or the demographic data collection. Moreover, despite the quarantines, almost 30 million have taken the second step to provide their biometrics in the registration centers.
“The impact of the COVID-19 pandemic is challenging, but the Philippines has a solid foundation to recover at the right time. Reforms such as Rice Tariffication Law and the National ID are helping us restore our development trajectory and enabling the people, especially the poor, to access affordable food and better social services,” he said.
The Annual Public Policy Conference (APPC) Public Webinar series is the main and culminating activity of the Development Policy Research Month (DPRM) headed by the PIDS.
Agriculture and human capital development key to a more resilient economy– NEDA
