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Politics

Marcos sets out big economic goal of slashing Philippine poverty

New president avoids China feud, human rights, corruption in policy speech

Philippine President Ferdinand Marcos Jr. delivers his first State of the Nation Address in Manila on Monday.    © Reuters

MANILA -- President Ferdinand Marcos Jr. on Monday promised to aggressively grow the Philippines' economy to slash the poverty rate to single digits, but steered clear of controversial topics such as a maritime dispute with China, corruption, human rights, and the legacy of his late dictator father.

In his first State of the Nation Address before a joint session of Congress, Marcos said his administration would aim for a 6.5% to 8% annual gross domestic product growth from 2023 through 2028, forecasting that the poverty rate would fall in that period to 9% from the current 23.7%.

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