00:00The Philippines is on track to achieve upper middle income status by 2025
00:04if economic growth targets are met, according to the National Economic and Development Authority
00:10or NEDA. NEDA Secretary Arsenio Balisacan said, with the current gross national income or GNI
00:16per capita of $4,230, the country needs to maintain a growth trajectory of 6 to 7 percent for 2024
00:24and avoid significant currency depreciation. Factors like holiday spending, stable prices,
00:29and remittance inflows support this forecast despite the impact of typhoons on agriculture.
00:35Secretary Balisacan also emphasized efforts to reduce poverty and bolster economic growth
00:40through lower borrowing costs and social protection programs.
00:43External risks, including geopolitical tensions, remain a concern.
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