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NEDA: PH on track to achieve upper-middle income status by 2025
PTVPhilippines
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11/29/2024
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00:00
The Philippines is on track to achieve upper middle income status by 2025
00:04
if economic growth targets are met, according to the National Economic and Development Authority
00:10
or NEDA. NEDA Secretary Arsenio Balisacan said, with the current gross national income or GNI
00:16
per capita of $4,230, the country needs to maintain a growth trajectory of 6 to 7 percent for 2024
00:24
and avoid significant currency depreciation. Factors like holiday spending, stable prices,
00:29
and remittance inflows support this forecast despite the impact of typhoons on agriculture.
00:35
Secretary Balisacan also emphasized efforts to reduce poverty and bolster economic growth
00:40
through lower borrowing costs and social protection programs.
00:43
External risks, including geopolitical tensions, remain a concern.
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1:08
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