A marathoner and economic planner
National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan, a long distance runner, initially thought the Vancouver Marathon last year would be his last.
But after finishing the marathon within his targeted time, he said he plans to participate in another one this year.
He said he was expecting to complete the marathon in five hours and 30 minutes, but finished it at five hours and 15 minutes. “That felt so good,” he said. “I’m no longer young. Before, I would aim for less than five (hours),” he said.
The head of the country’s premier economic planning body said joining a marathon is not so different from his work at the NEDA.
Just like long distance running, which requires discipline, will, determination and clarity on what one wants to accomplish, Balisacan said policy work and planning to get the economy moving at a faster pace involves putting in a lot of effort.
“Running is a discipline, especially long distance running. When you’re preparing for a marathon, 42 kilometers, that’s quite a lot of preparations that you have to do, months of conditioning yourself mentally, physically because you’re out there finishing a 42k. It’s like punishing yourself, but euphoria once you complete it,” he said.
Balisacan got into running in his mid-20s as he was doing his dissertation at the University of Hawaii.
Struggling with how the chapters and narrative would look like, he took a walk along Waikiki, which was near the campus and saw a group of runners.
“They had a running club. It was open so I listened. Then, I joined them. That started my immersion,” he said.
While he joined the group, which had marathoners who provided beginners with good advice, he said he would run alone most of the time early in the morning to clear his mind.
But as some thoughts would come to mind while running, he said he always brought a small notebook with him to write down the ideas that pop out and make sure not to forget.
While he has been invited by friends over the years to try other activities like golf, it just did not have the same appeal as running.
“I never left running. I enjoyed it. I liked it. It’s not an expensive sport because all you need is a pair of shoes unlike other sports, you’re so dependent to partners,” he said.
Balisacan usually starts running at around 5:30 a.m., covering seven to 10 kilometers on weekdays.
On weekends, he runs with a group and does longer runs of 15 to 21 kilometers.
“It’s fun. We talk while running. Most of the time, just in UP (University of the Philippines),” he said.
Aside from the Vancouver Marathon, he has completed the New York Marathon, Paris Marathon, Chicago Marathon and Honolulu Marathon.
For marathons, he said preparations include studying the route and terrain, as well as checking the weather conditions as such could affect one’s pace.
As one can get cramps in the middle of the race, he said preparations should also include knowing possible setbacks and what to do when faced with challenges.
He said policy-making and planning are also like that as they need to anticipate different scenarios and know what to do based on developments.
Serving as NEDA secretary for the second time after holding the same post under the Aquino administration, he said he has gained confidence, knowledge and experience on what can and can’t work.
“That reinforces your ability to work well with colleagues, deliver to meet the expectations of the President to be able to provide the information required for decision making,” he said.
Last year, the Philippine economy faced a setback as it grew by 5.6 percent, slower than the 7.6 percent expansion in 2022 and short of the government’s six to seven percent growth target.
This, as high inflation and elevated interest rates affected consumption.
Balisacan said he has mixed feelings about the economic performance last year.
“On one hand, globally, it’s not bad. We are managing our economy much better than others in that sense,” he said noting the Philippines’ 5.6 percent growth is the second highest next to India’s eight percent.
On the other hand, he said he wants the country’s economic growth to be faster.
“If we want to catch up with our neighbors, who have already left us by miles, we have to grow much faster. There’s no other option,” he said.
While the country’s economic growth fell short of the government’s target last year, he said this should not be taken as a failure.
“It’s pointing to you that there are many things that you have to fix. You have to work harder to recover that,” he said.
He said the government believes the targets under the Philippine Development Plan, which serves as the country’s overall development blueprint until 2028 are still doable.
The government is aiming for a 6.5 to 7.5-percent growth for this year.
For next year until 2028, the annual growth target is 6.5 to eight percent.
“Today, our potential is six percent GDP (gross domestic product)...But again, that’s not high enough. We can raise that to seven percent or even higher,” he said.
While the government is already undertaking massive infrastructure development, he said it is also important to focus on human development.
He said the talent pool should have the proper skills to address the labor mismatches.“Our analysis shows that if you are able to address that issue of mismatch in the labor market, by upskilling, retraining, ensuring that those who are coming out and joining the labor market have the skills, you can actually increase the potential growth of the economy by at least two percentage points,” he said.
When looking at growth, he said his focus is not just on a single year, but on what happens over the long term.
“I want growth to be sustained over decades. That’s the narrative of the AmBisyon Natin 2040. You have to sustain growth for 25 to 30 years,” he said.
Just like when running a marathon, he said one should be thinking about how to finish the whole 42 kilometers at the starting line.
“That’s how it should be. You have to always look at the long goal,” he said.