Posted 3/2/2024, 4:00:00 PM
Philippines Economic Growth to Slow, Missing 2025 Target But Reforms Could Mitigate Slowdown
- Philippines projected to reach upper middle-income status by 2031, missing 2025 target
- Growth among ASEAN-4 economies expected to slow over next decade due to weakening demographics
- Philippines has room to increase labor force participation rate to mitigate slowing population growth
- Governments should enhance digital skills and infrastructure to mitigate likely growth slowdown
- Improving workforce's digital skills will be challenging as education not on par with global standards
