IN a recently published paper, the Philippine Institute of Development Studies (PIDS) emphasized the need for the Philippines to pursue a multi-pronged strategy to boost the country's middle class, in line with the long-term goals codified in the AmBisyon Natin 2040 25-year development plan. The focus on the Philippines' growing middle class is sensible, as the country has an aspiration to become an upper-middle-income economy, something that Finance Secretary Ralph Recto has recently said might even be possible within the next year or two.
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