PH Cites Tax Reform, PPPs and Other Innovations

National Economic and Development Authority (NEDA) Undersecretary Dr. Rosemarie G. Edillon showcases Philippines experience at the High-Level Meeting on Financing the 2030 Agenda for Sustainable Development held at the United Nations headquarters in New York on 24 September 2018. (New York PM photo)

NEW YORK 11 September 2018 – The Philippines showcased its innovations to finance the 2030 Agenda for Sustainable Development at the United Nations High-Level Meeting (HLM) at the UN headquarters in New York on 24 September 2018.

Against the backdrop of the Philippine Development Plan (PDP) 2017-2022, Socioeconomic Planning Undersecretary Dr. Rosemarie G. Edillon cited the implementation of the Comprehensive Tax Reform Program where a portion of the increased collection will be directed towards health and education expenditures, and the use of Public-Private Partnerships (PPPs) that allows more public resources for social services.

“We have quite a mature experience with respect to private infrastructure finance through the PPPs.  And since funds are fungible, making use of the PPP mode to provide certain infrastructure projects frees up public resources to increase financing for social services,” Undersecretary Edillon stated.

Undersecretary Edillon also shared the Philippines’ accomplishments on sustaining the massive conditional cash transfer program; providing free health care in public health facilities, continuing free basic education, increasing Philippine Health Insurance coverage, offering tertiary education through state universities and colleges nationwide, and accelerating infrastructure development through the “Build, Build, Build program.”

She concluded by noting that the country is still looking for effective mechanisms to engage untapped financial resources from micro, small and medium enterprises, the Overseas Filipino Workers, and the diaspora to finance initiatives to achieve the Sustainable Development Goals (SDGs).

The HLM was convened by United Nations Secretary-General António Guterres, and brought together high-level representatives from the Member States, Chief Executive Officers from the private finance sector, philanthropists and technological innovators.

At the event, Secretary General Guterres launched his Strategy for Financing the 2030 Agenda which sets out the key elements of the UN’s role in supporting the mobilization of finance for the SDGs.

The meeting was part of a longer-term effort by to UN Secretary-General to finance and mobilize efforts to achieve the SDGs and drive global growth and sustainable development, leaving no one behind. END

For more information, visit www.newyorkpm.dfa.gov.ph/ www.un.int/philippines or https://www.facebook.com/PHMissionNY/