Philippines should strive for broad-based prosperity, says IMF

Tokyo

DESPITE recording strong economic growth in recent years, the Philippines has the potential to do even better and build a more inclusive, less impoverished society, particularly in the context of Asean economic integration, the International Monetary Fund (IMF) said on Wednesday.

It suggested in a report: "This path to greater, broad-based prosperity depends crucially on stepping up investment, including in infrastructure and in young people, creating much-needed employment opportunities for the fast-growing population."