bin picking-Poverty fight is ‘most important’ for economic team: Dominguez
An elevated highway is built against the backdrop of a tenement housing in Manila. Mark Demayo, ABS-CBN News/File
MANILA — The pace of the fight against poverty is the "most important" indicator for President Rodrigo Duterte's economic team, Finance Secretary Carlos Dominguez said Friday.
Duterte aims to reduce poverty among Filipinos to 14 percent by 2022 from 21 percent. This means lifting 1 million people from poverty every year, Dominguez said.
"This is the most important number we all hope to achieve," he told a forum 3 weeks before the President delivers his third State of the Nation Address.
Development will be "meaningless" if it does not mean "liberating people from the curse of poverty," he said.
Tax reform and the "Build, Build, Build" infrastructure program are key to growing the economy, he said.
"Slightly elevated" consumer prices are "understandable" in an economy that is growing as fast as the Philippines, he said.
Economic managers can "pull back" inflation within the target range as oil prices soften, the peso-dollar exchange rate normalizes and rice prices go down, he said.
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