MBC: PH to hit upper- middle income next year

Cuisia, a former governor of the Bangko Sentral ng Pilipinas (BSP), said he even sees the Philippines reaching high-income status by 2050.

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cent from its 2023 level.

According to the World Bank, high-income status applies to countries with a GNI per capita of more than $14,005.

He, however, said the GNI has to grow by an annual average of 4.5 percent over the next 35 years to achieve this.

"I'm confident, I'm optimistic that we will be able to do that," he said during an MBC media forum last week.

With President Ferdinand “Bongbong” Marcos Jr.'s recent order to “recalibrate” his Cabinet to realign the government with the people’s needs, Cuisia said this would be the most ideal time for the government to focus on economic growth drivers.