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Expanding PH Middle Class Requires ‘Multipronged’ Strategy—PIDS


The last issue of the Development Research News (DRN) for 2024 highlights key insights from the 22nd Development Policy Research Month, themed “Securing a Future for All by Growing a Resilient Middle Class”. The banner article discusses a multipronged strategy to expand the middle class in the Philippines, including promoting social justice, harnessing trade and investments, ensuring a future-ready workforce, and improving digital governance and public service delivery. Another article focuses on enhancing public investment efficiency, boosting human capital, and strengthening resilience and inclusivity to drive sustainable economic growth in the country. Experts in the subsequent article stress the urgency of collective climate action and sustainable management of natural resources to address escalating environmental challenges. Moreover, they underscore the importance of increased competition across the manufacturing, agriculture, and services sectors to boost innovation, foster digital empowerment, and achieve global economic growth. Another article points to developing a culture of lifelong learning to create a future-ready workforce capable of adapting to the fast-evolving modern world. Additionally, an article introduces the concept of the “Finternet” as a strategy to enhance financial access through digital technologies and dismantle traditional barriers within financial systems. Key government officials also share their perspectives on fiscal policies, tourism development, agricultural modernization, social protection, and developments in the Bangsamoro region. Completing this issue are discussions from two significant forums held in Mindanao. Both the Mindanao Policy Research Forum and the Bangsamoro Policy Development Research Forum emphasize the region's crucial role in expanding the middle class and the need for collective action to foster lasting, inclusive growth. 


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