Balisacan: PH on track to achieving upper middle income status by 2025

National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said the Philippines is on track to achieve upper middle income status by 2025.

''Yes we are. Because with the 6 to 7% is quite a high growth and still falls within the realm of possibility for our entry to the upper middle income class,'' Balisacan said.

''The threshold of $4500 in gross national income per capita should've been there,'' the NEDA chief added.

In his first State of the Nation Address in July 2022, Marcos said his administration was looking to bring the Philippines to "upper-middle income status by 2024" with "at least $4,256 income per capita."

Marcos said his administration, including the economic managers, is pursuing and implementing reforms that aim to attract more foreign investment as well as expand commerce not only domestically but globally.

The President has said he wants to continue the growth trend of the economy in the coming years. — RSJ, GMA Integrated News