PH moves target to become upper-middle-income status to 2025

MANILA, Philippines --- The Philippines has moved its target to reach upper middle-income status from 2024 to 2025, Secretary Arsenio Balisacan, chief of the National Economic and Development Authority (Neda) said at the "Saturday News Forum" in Quezon City. It was President Ferdinand Marcos Jr. who said in his first State of the Nation Address that the Philippines was eyeing to reach the upper middle-income status by 2024. Marcos even told the United Nations General Assembly in September that the Philippines was on track to reaching a higher income status by 2023. However, Balisacan said the country ran into setbacks, such as the sharp contraction of the economy in 2020 and...

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