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This report contains many policy recommendations which are recognized by the Government, but they cannot all be implemented at once. While the Government has made progress in addressing a number of these issues, a well phased and coordinated implementation plan is needed to build the momentum necessary to achieve the MTPDP growth and poverty reduction targets. Listed below are the key recommendations for priority attention. The Philippines must increase private and public sector productivity and investment to achieve the Medium Term Philippine Development Plan (MTPDP) growth targets of over 5 percent per annum. It must complement this higher growth with increased equity achieve the desired rapid reduction in poverty. Anything less would result in further disappointment and frustrated expectations. Increasing productivity and Investment necessitates renewed confidence and more efficient technical use and allocation of resources. The achievements of 2001 need to be followed with further actions to improve fiscal policy on a sustained basis; strengthen the rule of law, governance and public sector performance; and foster private sector competitiveness; and foster private sector competitiveness, in particular by enhancing public-private partnership in infrastructure development and by enhancing the soundness and depth of the financial system.
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