Let me express my appreciation to the UN Secretary General for hosting this High Level Meeting on Financing the 2030 Agenda for Sustainable Development.

In the case of the Philippines, the enabling environment for ensuring finance for the SDGs begins with the integration of the 2030 Agenda in the Philippine Development Plan (PDP) 2017-2022. This is very important as the PDP also guides national budget appropriations and directs the actions of the other stakeholders. Thus, actions taken to achieve the SDGs are then viewed as complementary, if not concurrent, activity with the implementation of the PDP.

We also demonstrate our own resolve towards domestic resource mobilization.  The Philippines is currently undertaking a comprehensive tax reform program.  Already implemented are the increases in and indexation of sin taxes, and imposition of excise taxes on sugar sweetened beverages, purchase of automobiles and fuel.  Part of the increased collection is earmarked to fund public health and education expenditures.  Also, mindful that some of the low income groups may be hurt by the tax on fuel, government is rolling out an unconditional cash transfer to the poorer half of families; and drivers of public utility vehicles are given fuel subsidy as well.

We also have quite a mature experience with respect to private infrastructure finance through the Public-Private Partnership (PPP).  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. 

Our programs speak for themselves:  In addition to sustaining the massive conditional cash transfer program covering about 20% of families, , providing free health care in public health facilities, free basic education (elementary and secondary), we have increased the coverage of our Philippine Health Insurance to almost 95% of population.  Also, we now offer tertiary education in all of the state universities and colleges in the country.  In addition, we have accelerated infrastructure investments especially focused on connecting the lagging to the leading regions; we have labeled this as “Build, build, Build.”

All of the above, plus some more, but always observing fiscal prudence such that public deficit is maintained to just around 3 percent of GDP.

Even with all these, we are very much aware that there are large untapped resources, namely, the micro, small and medium enterprises, the Overseas Filipino Workers, and the diaspora.  In the Philippines, MSMEs make up more than 99 percent of all enterprises; overseas Filipinos comprise about 10 percent of the population.  We are still looking for the most effective mechanism for engaging with these untapped, but highly fragmented and largely uncoordinated resource.  We hope to learn more from the rest of the panel and the other member states about their experiences regarding this.

Thank you.