NEDA to update economic blueprint

MANILA, Philippines - The Philippine Development Plan (PDP) and the Public Investment Program (PIP) will be updated to take into account latest developments in the economy such as the new executive order on mining, the country’s economic planning head said yesterday.

Socioeconomic Planning Secretary and National Economic and Development Authority (NEDA) director-general Arsenio Balisacan said an updated PDP, the government’s economic blueprint, may be ready by July 2013.

The PIP, the investment program which supports the PDP, would be updated as well, he said.

 “Starting this month, we will start the process of updating. In July 2013, we will have a new (PDP) and the (Public Investment Program) will have to support the plan,” Balisacan said.

According to the PDP for 2011 to 2016, the government will focus on its “war against poverty” and would promote a culture of competitiveness “accompanied by the generation of skilled and decent jobs in all productive economic sectors particularly industry, agriculture and services shall be developed alongside the promotion of good labor-management practices.”

The PDP has a goal to create six million jobs from 2011 to 2016 or an average of one million jobs per year. Bulk of the jobs will come from industry and services and the rest from micro, small and medium enterprises.

Balisacan said he would be meeting with President Aquino to discuss the changes to be incorporated in both the PDP and PIP.

“I do think that even the PIP would have to be updated. Once we have updated the Philippine Development Plan. There are many developments happening and that now makes the plan a bit off in some instances. These include growth projections and infrastructure programming,” Balisacan said.

The new EO on mining, signed by President Aquino during the weekend, sets new parameters for the industry.

Balisacan said the impact of the new EO on mining on the industry would be taken into account in the new PDP and PIP.

The impact of the CARPER law, or the law extending the Comprehensive Agrarian Reform Program (CARP), would also be taken into account,” he said.

“We will have a better idea also of what will happen with the CARP program. These are among the new developments,” the country’s socioeconomic planning chief said.