NEDA: PH on track to achieve upper-middle income status by 2025

PTVPhilippines

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00:00The Philippines is on track to achieve upper middle income status by 2025

00:04if economic growth targets are met, according to the National Economic and Development Authority

00:10or NEDA. NEDA Secretary Arsenio Balisacan said, with the current gross national income or GNI

00:16per capita of $4,230, the country needs to maintain a growth trajectory of 6 to 7 percent for 2024

00:24and avoid significant currency depreciation. Factors like holiday spending, stable prices,

00:29and remittance inflows support this forecast despite the impact of typhoons on agriculture.

00:35Secretary Balisacan also emphasized efforts to reduce poverty and bolster economic growth

00:40through lower borrowing costs and social protection programs.

00:43External risks, including geopolitical tensions, remain a concern.

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