Achieving upper-middle-income status will require more growth outside of MM

Recent discussions and analyses point to the country achieving Upper Middle-Income Country (UMIC) status. Derco Rosal’s July 2 Manila Bulletin article talks about the hope that we may enter this income category, which means that a country achieves a Gross National Income (GNI) per capita of between $4,496 and $13,935 per year. Achieving this level means there will be more opportunities and confidence in the economy, since higher incomes can drive economic expansion and opportunity for the people.

- #MINDANAO JOHN TRIA

However, achieving UMICstatus also means that we will need to stay there and keep growing even more to sustain the benefits of sucha status for our citizens. This may not prove to be easy, but some insights may help us sustain that growth level.

Sustaining UMIC status over time will mean that the growth should not be concentrated in one area. Based on the latest figures, the combined Gross. Regional Domestic Product (GRDP) share of the Calabarzon, Central Luzon, and the National Capital Regions account for over half of our country’s total GDP. I believe that getting other regions to growmore will allow them to contribute a bigger share and, in turn, will pull up the country’s growth.