PHL executives weigh in on impacts of emerging challenges for 2025
By Bjorn Biel M. Beltran, Special Features and Content Assistant Editor
The story remains promising for the Philippines’ economic narrative. But there is yet a long road ahead before the country transition into the next chapter of reaching “upper middle-income status”, and 2025 is simply the first step.
National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan is confident that the Philippines would reach the official status this year. Upper middle-income countries are those economies recognized by the World Bank with gross national income per capita — in other words, the average income generated by residents inside the country as well as by Filipinos abroad — ranging between $4,516 and $14,005 for the fiscal year 2025.
Many leaders share his optimism. Frederic C. DyBuncio, SM Investments Corp. (SMIC) president and CEO, said in an interview that there are several encouraging trends that bolster the business community’s hope in the Philippines’ unimpeded growth.
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