The Philippines is set to achieve upper middle-income status if it can sustain its growth trajectory and meet key targets through strategic investments,
policy reforms and a favorable economic environment, according to the Philippine Institute for Development Studies .
The forecasts are detailed in the PIDS study “Macroeconomic Prospects of the Philippines in 2024–2025: Toward Upper Middle-Income Status”. It identifies key drivers of progress such as enhanced macroeconomic stability, effective governance and deeper integration into international trade and investment networks.
The study said despite the promising trends, challenges could temper growth in 2025, and chief among them is the global economic slowdown, which poses risks to the demand for Philippine exports. The Regional Comprehensive Economic Partnership is crucial in facilitating smoother trade flows and enhancing the country’s access to markets across the Asia-Pacific region, it said.
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