The Philippines: A Remarkable Transformation, Sustaining the Momentum

The Philippines has transitioned to one of the East Asia's fastest growing economies after decades of sluggish growth. Over the past 15 years, the country has doubled its GDP, increased employment rates, and improved job quality. To become a truly middle-class society where no one is poor, the country must sustain its momentum by addressing significant challenges towards the faster growth and job creation. The report outlines reforms that can help shift to productivity-driven development and build a dynamic private sector that unlocks opportunities for people.