Artikelbeschreibung
The Philippine economy has recorded strong growth and rapid poverty reduction over the past 15 years, underpinned by macroeconomic stability and continued progress in social protection. However, achieving the objective of tripling income per capita relative to 2015 by 2040 will become increasingly challenging as demographic tailwinds fade and climate risks intensify. Maintaining high, broad-based and sustainable growth requires a decisive shift towards structural reforms to foster competition, deepen trade and investment openness and improve governance, strengthen incentives for formal job creation, and advance robust climate mitigation and adaptation policies.
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