00:00The government remains optimistic that the Philippines will achieve upper middle income status by next year.
00:06This according to the National Economic and Development Authority or NETA Secretary Arsenio Balizacan.
00:11The NETA chief emphasized that to avoid falling into the so-called middle income trap,
00:16the Philippines and other middle income countries must implement strategies that accelerate structural transformation,
00:23diversify their economies and pursue technological upgrading.
