President Ferdinand "Bongbong" Marcos Jr. (left), Navotas City lone district Rep. Toby Tiangco (Facebook) Navotas City lone district Rep. Toby Tiangco is upbeat with the prospect of the Philippines achieving middle incoming status as...
Japan will help the Philippines achieve its ambition to become an upper middle-income economy through sustained official development assistance (ODA), according to Japan International Cooperation Agency (JICA) president Akihiko Tanaka. At an online press briefing commemorating JICA's 70th...
The World Bank is crafting its lending plan for the Philippines covering the years 2025 to 2028, the period during which the country will likely rise to upper middle-income status and gradually lose access to preferential borrowing rates. The World Bank Group Philippines Country Partnership...
The Department of Finance (DOF) said the decrease in the unemployment rate in May shows that the country is making progress towards its goal of becoming an upper-middle-income country by 2025. In a statement, Finance Secretary Ralph G. Recto said the year-on-year decrease in the number of...
Filipino individuals had a higher total income last year, exceeding the target range set in the government’s Philippine Development Plan 2023-2028, the National Economic and Development Authority (NEDA) said. Based on the World Bank report, NEDA stated that the country’s gross national income...
National Economic and Development Authority Secretary Arsenio M. Balisacan said that the country's gross national income (GNI) per capita must have a 6.7 percent growth to be able to reach the upper middle-income status. On the sidelines of the launch of National AI Strategy Roadmap 2.0, Balisacan...
The country’s socioeconomic planning agency remains positive that the Philippines will become an upper middle-income economy by next year. National Economic and Development Authority Arsenio M. Balisacan said that the country remains on track to achieving an upper middle-income status in 2025...
Japan declared its commitment to support the Philippines in attaining an upper middle-income status in the next few years. A joint committee meeting was held in Tokyo on Tuesday, Aug. 29 between the Philippine delegation and the Japanese government to determine the necessary development assistance...
Filipino-led Citicore Energy REIT Corp. (CREIT), which is the first renewable energy company in the country to undergo real estate investment trust (REIT) listing , posted marginal income growth of just 2.0-percent in the first quarter this year to P304.96 million from P300.30 million last year. On...
Owing to inventory losses that weighed down its overall financial performance within January to March this year, Shell Pilipinas Corporation logged a net loss of P300 million within the quarter, substantially reversing a hefty income of P3.5 billion in the same period last year. If reckoned on core...
Leading oil firm Petron Corporation reported that its consolidated net income in the first quarter this year slightly dropped to P3.4 billion versus last year’s more upbeat bottom line of P3.6 billion due to higher financing cost. “The increase in financing cost was partly tempered by the...
The Marcos administration is aiming to raise Filipinos’ average earning to around P20,000 per month in two years, an income level that would propel the Philippines towards the much coveted upper-middle income status. From the current per capita income of $3,549 or roughly P197,692 at current...
