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PBBM, kumpyansa na makakamit ng Pilipinas ang upper middle country status ngayong 2025
PTVPhilippines
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1/13/2025
PBBM, kumpyansa na makakamit ng Pilipinas ang upper middle country status ngayong 2025
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00:00
President Ferdinand R. Marcos Jr. is confident that the Philippines can use the upper-middle-country status now in 2025.
00:08
The country's economy is in a good position in the diplomatic community.
00:13
Alvin Baltazar of Radyo Pilipinas has the details of the country's news.
00:20
President Ferdinand R. Marcos Jr. believes that the country can get its upper-middle-income country status now in 2025.
00:28
In a traditional speech of Van den Oor in his palace last Saturday,
00:32
the President said in front of the diplomatic community that the country's strong macroeconomic fundamentals
00:40
will allow the Philippines to reach its current income.
00:46
With strong macroeconomic fundamentals, we are confident that the country will be able to hit this year
00:52
the GNI per capita range set for us by the World Bank
00:57
to reach the upper-middle-income status country,
01:01
coming off from an all-time high record registered in 2023 to the tune of US$4,335.
01:12
The President also praised the Philippines' good economic status,
01:16
which is considered to be the strongest in Asia,
01:20
which surpassed 5.8 percent for the first three quarters of 2024,
01:25
a reason to boost the performance of other countries in the Asian region.
01:30
This is the proof of the high gross domestic product after 27 years of reaching 16.7 percent,
01:38
and the revenue collection of 2024, which reached P4.42 trillion, is a big deal here.
01:46
The Philippine economy remains among the strongest in Asia.
01:50
Expanding 5.8 percent for the first three quarters of last year,
01:55
and outstripping performances of some peers in the Asian region.
02:00
Our revenue collection for 2024 is about P4.42 trillion, accounting for 16.7 percent of our GDP,
02:10
and this is the highest figure in the last 27 years.
02:14
In addition to the President's praise for the country's first-ever credit A rating from S&P Global Ratings,
02:22
he also lowered the unemployment rate to 4.0 percent,
02:26
which is even lower than the 4.4 to 4.7 percent target,
02:31
and the reason for this is the strengthening of the labor market.
02:36
For Balintang Babansa, Alvin Balcazar of Radyo Pilipinas.
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