Effort doesn’t end in making UMIC, but sustaining status

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The story "Effort doesn’t end in making UMIC, but sustaining status" was covered 1 days ago by Business Mirror, a news publisher based in Philippines.

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Effort doesn’t end in making UMIC, but sustaining status - Business Mirror

Quick Summary:

MILAN, Italy—Attaining Upper Middle Income Country (UMIC) status has been the goal of the Philippines for some time and the government believes 2026 is the year it breaks into this income classification.

However, Asian Development Bank (ADB) Philippine Country Director Pavit Ramachandran said it is one thing to get classified as a UMIC but it is another to be able to sustain it.

Under the CPS, ADB will intensify its support for initiatives that benefit low-income households, promote regional economic growth corridors through flagship infrastructure investments, and shift focus to emerging sectors like clean energy, blue economy and nature-based investments.