State Dining Room, Malacañan Palace
January 23, 2025

President Ferdinand R. Marcos Jr. met with his Cabinet Secretaries for the 24th National Economic and Development Authority (NEDA) Board Meeting to discuss the Philippine Development Report (PDR) 2024 at the State Dining Room in Malacañan Palace.

The President emphasized the importance of effectively communicating government achievements to the public, particularly those that directly impact ordinary Filipinos. While acknowledging that major structural reforms and projects often take years to complete, he underscored the need to explain the progress and long-term benefits of ongoing initiatives.

The Chief Executive also called for a comprehensive report on the government’s efforts to ensure food security, highlighting the need to demonstrate how these initiatives benefit Filipino families and contribute to an improved quality of life.

During the meeting, NEDA Secretary Arsenio Balisacan delivered a video presentation where he stressed that the government must avoid complacency. He also outlined the government’s ambitious targets for 2025 which include achieving a gross domestic product (GDP) growth rate of 6.0 to 8.0 percent, maintaining a headline inflation rate of 2.0 to 4.0 percent, and reducing poverty incidence to below 13.2 percent this year and 9.0 percent by 2028.

The Administration aims to sustain economic growth by working closely with Congress on development priorities, strengthening fiscal programs, and institutionalizing regular monitoring, evaluation and integration in budgeting and planning processes.

The PDR 2024 highlights progress in key areas such as economic transformation, food and water security, social development, environmental protection, peace and order, national security, digital transformation and good governance.

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