MANILA, Nov. 8 (Xinhuanet) -- Philippine Socioeconomic Planning Secretary Romulo Neri Monday defended the government's Medium-Term Philippine Development Plan 2004-2010, which has been criticized lately by some economists as unrealistic.

    In a statement, Neri, head of the National Economic and Development Authority said the plan is feasible and its targets have enough concrete bases.

    Neri stressed that the 7 percent to 8 percent growth scenario by 2009 under the development plan is a fighting target, anchored on a "strong reform" scenario, which prescribes bold structural reforms.

    Neri said, "Given the magnitude of poverty, unemployment and the fiscal problem, the government cannot certainly be on a 'business as usual' mode and 'muddle through' over the six-year period."

    "Targets and strategies are set beyond the current level so that at the end of the six-year period, poverty would have been reduced significantly," he added.

    Neri said growth needs to accelerate to at least seven percent by 2009 if the Philippines is to significantly reduce unemployment and poverty incidence.

    He noted that unemployment and poverty will not be addressed if the economy expands merely by its historical growth of around 4 percent.

    Neri added that the government wants to benchmark itself against the performance of its Asian neighbors which are already growing at rates of around 6 percent to 8 percent such as Thailand(6.4 percent by the first semester of 2004), Malaysia (7.8 percent), and Vietnam (7.1 percent in 2003).

    The Philippine economy growth reached 6.3 percent in the first half of this year. Enditem