PH ranking seen much improved by 2030

Government spending coupled with favorable demographics will likely help the Philippines become the world’s 27th largest economy by 2030, banking giant HSBC said.

In a report released on Wednesday, HSBC said its a new long-term forecasting model considered not only countries with “strong demographics and catch-up potential” but also those with “relatively high levels of education, good health care quality and which are open or have strong political rights.”