respective resolutions backing the MTFF,” Budget Secretary Amenah Pangandaman said in a statement.

“The MTFF is the roadmap for our Agenda for Prosperity,” Pangandaman added, noting that it is the first time that a comprehensive fiscal strategy for the entire term of an administration had been developed and adopted through resolution by Congress.

She said the MTFF helped DBM list the country’s economic objectives such as achieving 6.5- to 7.5-percent real gross domestic product (GDP) growth in 2022; 9-percent or singledigit poverty rate by 2028; 3-percent national government deficit-to-GDP ratio by 2028; and less than 60-percent national government debt-toGDP

ratio by 2025.

“It is with these objectives in mind that we have designed our National Expenditure Program (NEP),” the Budget secretary added.

The DBM also thanked Congress for recognizing the importance of a fiscal consolidation and resource mobilization plan, including measures such as rightsizing government organizations.

Senate Concurrent Resolution 3 states that the MTFF will guide the legislative agenda, and specifically cites support for both the near-term and medium-term socioeconomic agenda that addresses issues in areas of food security, transport and logistics, energy, fiscal management, health, education, social protection and bureaucratic efficiency. It also calls for a review and update of the MTFF after three years or in 2025.