PH upper middle-income by 2020 – ADB

The Philippines is expected to reach an upper middle-income level in the next four years, a result suggested by significant improvements in public sector management operations and social welfare programs in the country, the Asian Development Bank (ADB) said.

The Manila-based multilateral lender, in its Independent Evaluation’s 2016 Annual Evaluation Review of its operations and challenges for the region, said the Philippines along with other Asian economies will step up to become an upper middle-income economy following improvements in the countries’ infrastructure, public sector, and social welfare programs development.