Multi-pronged approach needed to expand middle class, says PIDS

A multi-pronged approach is needed to address the key challenges and opportunities in achieving the vision of a predominantly middle-class society in the country, according to the Philippine Institute for Development Studies (PIDS).

- CATHERINE TALAVERA

"Expanding the middle class requires a multipronged approach that encompasses promoting social justice in natural resource management and climate change transition, harnessing new opportunities in trade and investments, ensuring a future-ready workforce, strengthening social protection systems, and improving digital governance and public service delivery," the PIDS said in its Economic Policy Monitor 2023-2024: Wealth Creation for Expanding the Middle Class in the Philippines.

"By establishing a comprehensive and integrated set of policies and programs across these key areas, the Philippines can build a stronger, more resilient, and more inclusive middle class," the think tank said.

The report proposed specific recommendations under the four mentioned areas to foster a stronger and more inclusive middle class in the Philippines.

Under promoting social justice in natural resource management and climate change transitions, the PIDS is recommending strengthening community-based natural resource management frameworks, ensuring equitable access to and benefit sharing from natural resources for local communities.