The Philippines is seen becoming the world’s 13th biggest consumer market by 2030, fueled by a growing middle class, Finance Secretary Ralph Recto said Monday.
“This expansion is seen to rapidly raise the country’s average income per person, nearly doubling from $3,541 last year to $6,500 by 2030,” Recto said during the Philippine Economic Briefing. The Finance chief said the Philippine economic outlook is the brightest it has ever been. The Philippines has consistently become the brightest star in the Association of Southeast Asian Nations , with the fastest growth in recent years.
He said this trajectory puts the Philippines firmly on course to become a trillion-dollar economy in less than a decade.
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