Romualdez highlights PH economic roadmap at Asean assembly

Speaker Ferdinand Martin Romualdez

MANILA, Philippines–Speaker Ferdinand Martin Romualdez outlined the Philippine plan for economic resilience, emphasizing job creation, to fellow lawmakers of the Association of Southeast Asian Nations (Asean).

In his statement at the plenary session of the 44th Asean Inter-Parliamentary Assembly general assembly, Romualdez also highlighted the crucial role of the partnership between Congress and the administration of President Ferdinand R. Marcos, Jr. in achieving such a goal.

Romualdez urged fellow Asean lawmakers to use the occasion as a platform not only for dialogue but, more importantly, to share best practices among member parliaments.

“Following the lead of President Ferdinand Marcos, Jr., we have adopted a Medium-Term Fiscal Strategy that aims to support economic recovery while ensuring fiscal sustainability,” Romualdez said.

“Together with the Executive, we have focused on creating more job opportunities for Filipinos and improving their employability. Productivity-enhancing investments have been promoted while exercising prudence in fiscal management,” he said.

He said the country’s leaders adopted such a policy, recognizing that the pandemic has exacerbated income insecurity, especially for those without any access to social protection, and those working in the informal economy.

“Retooling and re-skilling to sharpen the competence of our job seekers has been our priority, together with the development of sustainable technologies to create more green jobs,” Romualdez said.

Under his leadership, Romualdez said the House of Representatives has passed 33 out of 42 priority measures adopted as the Common Legislative Agenda of the Legislative-Executive Development Advisory Council by the end of the First Regular Session.

“Towards the end of 2022, we have taken pride in our accomplishments of the 19th Congress in its first five months, acknowledging the swift but thorough passage of a substantial number of the President’s legislative agenda, including our priority measures in the House,” he said.

Among others, Romualdez cited the approval of the Maharlika Investment Fund bill hailed by Marcos as essential “in order to establish a sustainable national investment fund as a strategic mechanism for strengthening the investment activities of top performing government financial institutions, and thus pump-prime economic growth and social development.”

He also noted the timely signing of the P5.268-trillion 2023 General Appropriations Act, which is “the most important and potent tool that the President, his economic team, and the entire government can use to accomplish the goals of the prosperity roadmap.”

(This article was generated with the aid of artificial intelligence and reviewed by an editor)