Philippines becoming a middle-class nation – WB
World Bank lead economist Birgit Hansl said the Philippines is slowly becoming a middle-class country. However, Hansl pointed out that lack of inclusion is a major challenge to the country’s growing economy. She recommended that policies for inclusive growth should address varying constraints faced by different economic classes. Hansl cited the divergence between the current and projected economic growth in the Philippines compared with other developing countries in Southeast Asia. She underscored that although the country has developed is growing well, other neighboring countries did it much faster. The government, she added, needs to adopt more policy approaches for inclusive growth.
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