A government official has recommended for a gradual shift in paradigm from the government’s Conditional Cash Transfer (CCT) program towards more government interventions.
Presidential Adviser for Entrepreneurship Joey Concepcion said the shift should be implemented in the next 10 years.
“We give about 65 billion pesos to those that are really at the bottom of the pyramid, which is fine, which is good. But frankly, it does not really teach them how to fish, we’re just giving them the fish. So we have to change that and my proposal and I’ve proposed this to some of the secretaries that maybe, over the next 10 years, that should move towards more government intervention,” Concepcion said in a press briefing in Malacañan on Thursday, January 26.
Concepcion explained that the shift from CCT may include additional funding for government interventions that could help micro, small and medium enterprises. This in turn, he said, would help create more jobs for the Filipinos.
Concepcion meanwhile said mentorship is a powerful tool to equip micro, small and medium scale entrepreneurs.
“There are many entrepreneurs out there already who need a lifeline, advice and guidance and direction on how they can move from basically survival entrepreneurship to sustainability,” Concepcion said.
In the same briefing, meanwhile, Presidential spokesperson Ernesto Abella said the Palace welcomed the country’s 6.6 percent GDP growth in the fourth quarter of 2016 with a 6.8 percent GDP growth for the year 2016.
“The last quarter of an election year is usually weak with the government transition. However, in our case, it has actually improved,” Abella said.
“This is higher than the 6.3 growth recorded during the fourth quarter of 2015 and the 6.6 growth in fourth quarter is a testament that our economy remains robust and is growing at a healthy and steady rate,” he said, adding that the Philippine economy is likely the third or fourth fastest-growing economy in the fourth quarter of 2016 after China and Vietnam.
“Overall, we believe that the target of 6.5, 7.5 for 2017 is highly likely and that our strong economic performance is likely to be sustainable in the long run,” Abella said.###PND