From the dark days of 2020 to the days of hopefulness in 2021, we are blessed with numerous

opportunities today, the year 2022. We have seen how our beloved country fell victim to the hands of
unseen adversity and suffered blows from different complications that it brought – sickness, loss of jobs,
and death, however, we were also witnesses of how we all came back to our feet and fought for
everything that we deserve – our family, our jobs, our needs, and our wants. As a result of all our
persistence and tenacity, we now have obtained numerous blessings and opportunities which I hope will
last with us for eternity. However, along with all the good things that we have accomplished this year,
we also faced difficulties and tribulations that we have and are currently mending in order to build the
Philippines that is worth dying for.

During the third quarter of 2022, the country saw a 2.9% gross domestic product growth
compared to the second quarter of the same year, and during the first nine months of 2022, we
recorded 7.5% GDP growth which is the sixth positive growth recorded since the second quarter of
2021. In comparison with other countries in Southeast Asia, we rank second following Vietnam.
However, we still need to expand our economy by 3.3% in order to reach our minimum goal of 6.5%
growth or by 6.9% to attain our maximum goal of 7.5% of GDP growth. This news may not be so positive
for us all but these numbers show us multiple spaces to improve our trade internationally and
domestically. The administration will focus on supporting local-based businesses and companies,
improving logistics, and implementing regulations on product exchange. We also have 13.05 billion
Pesos worth of foreign investments from Japan, South Korea, and Singapore, to name a few, which we
will utilize to support the country's manufacturing, service, and infrastructure sectors. In addition to this,
our economic experts can see more growth in our gross domestic product as we see improvement in
household consumption which recorded an 8% increase in the third quarter of 2022 along with the
steady growth of investment rates to 21.7% in the same time frame. The country’s export rate has also
been steadily growing from 10.4% from January to March to 13.1% in July to September. These factors
show that the country is steadily developing to be able to compete with other more developed
countries in Asia while being able to sustain its local members.

With the approved foreign investments from our partner countries which will support several
important sectors in the Philippine economy, we expect that these funds will be an instrument to open
several jobs to Filipinos. Job opportunities from these partnerships are expected to cater 17,994 job
opportunities for aspiring Filipinos. In talks of employment, the country has recorded a stellar record of
95.5% employment rate as of October 2022, 3.5% higher than the same month of 2021 with
unemployment rates falling back to 4.5% which is significantly lower compared to the same month of
last year. This is a positive signifier of the steady growth in the purchasing power of Filipinos which will
properly nourish the development and growth of our citizens. By 2023, we project that through more
job openings from international investments and confidence from our local business owners, we can
increase the employment rate in the country as our Filipino workers are our top priority.

In November 2022, the country recorded an 8.0% inflation rate which is the highest recorded
inflation since 2008. This is a result of different external factors such as ongoing international conflicts
which caused a rise in the prices of fuel which in turn affected the prices of basic commodities in the
country. Rest assured, however, that this issue is my top priority. Our economic experts, along with the
other members of the government, are keeping an eye on this issue and are creating step-by-step and
concrete plans which will help combat this temporary challenge.
 In the talks of education, reforms in the system are being planned out which aim to develop and
produce students who are globally ready. The usage of Filipino and English shall be kept as the main
language of instruction in schools to inculcate in the students the technicalities of grammar in both
languages. Furthermore, educational institutions are encouraged to teach more sciences and useful
vocational skills to students which they could use when they go out in the outside world. We have
planned many projects aimed at developing useful skills and talents in Filipino students. As proof of this,
the education sector has been allocated 710.6 billion pesos in the year 2023.

In the talks of health, health insurance that is available and accessible to everyone stays as a
number one priority in all our projects. We believe that affordable healthcare is the key to a progressive
community that promotes harmony and unity. The Republic Act No. 11223 or the Universal Health Care Act
is expected to support just this cause as it aims to provide healthcare support and health literacy to all
Filipinos even in extremely rural areas. As a result, Congress allocated a total of 296.3 billion Pesos of budget
for the Department of Health and Philippine Health Insurance Corporation or PhilHealth. Through this, it is
expected that Filipinos gain equitable access to medical services and are protected from financial risks.

In the talks of women’s protection in society, the government vows to implement stricter laws
regarding the security of women in the home and the workplace. With the rising number of reported cases of
physical abuse, trafficking, rape, and sexual exploitation to the Philippine National Police and Department of
Social Welfare and Development, we aim to develop a better place for Filipino women so that they can
exercise their responsibilities and duties without the fear for their safety.

For the year 2023, we have optimism that our gross domestic product will reach a minimum goal of
6% to a maximum of 7% as we continue to campaign on government projects focused on revitalizing the
agricultural, industrial, and services sectors. This growth projection is noticeably slower because of soaring
prices of commodities but we expect that by 2024 to 2028, the Philippines’ GDP growth will again pick up its
pace through the modernization of agri-businesses.

We also project that we will see inflation rates at 2.5% to 4.5% by mid-2023. It is also projected to
improve to the goal of 2.0% to 4.0% by the end of 2028. Furthermore, due to money-tightening policies
implemented by the US Federal Reserve and other international uncertainties, the dollar-to-peso exchange is
expected to settle at 55-59 pesos.

To my fellow beloved Filipinos, we know that the path we had to tread on was not easy,
however, with our continuous persistence and with your support, we can attain a new and developed
Philippines for our children and our future. I know that everyone here is doing their best to obtain their
best goal, and I must let you know that whatever I do is the improvement of whichever path in life you
walk on. I know I have gathered the best and most qualified people to do the job of serving the country
and I know that I am with citizens who know how to work hard for the betterment of their nation. With
this, I promise to make the best out of every year of my presidency while giving my utmost efforts to
support the Philippines, my beloved country. I know from every bit of my being; the Philippines is out for
the best win. Thank you very much!