00:00 It is possible that two or three years before the Philippines becomes the upper middle-income economy, according to the World Bank,
00:08 it cannot reach the target of the government in 2025.
00:12 Although the economy is running well in 2024, according to the World Bank,
00:17 it needs to face some problems like inflation or the rapid rise in the price of goods.
00:24 The new government, the National Economic and Development Authority, is working hard on that.
00:30 As of now, the Philippines is still in the lower middle-income status.
00:34 As Secretary Arsenio Balisaca said, the government can reach its target if we can achieve a 6 to 7 percent economy.
00:44 According to the World Bank, the average economy of the Philippines is at 5.9 percent until 2026.
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