INQUIRER.net FILE PHOTO
The Securities and Exchange Commission (SEC) has pledged to push ahead with reforms aimed at improving the ease of doing business and deepening the country’s capital markets following the Philippines’ ascent to upper-middle income status.
In a statement on Friday, the SEC said the commitment came after the World Bank announced that the Philippines had moved up from lower-middle income status after gross national income per capita reached $4,850, surpassing the $4,636 threshold for the category.
The reclassification was driven by broad-based growth across major industries, with the economy expanding by an average of 5.8 percent annually from 2021 to 2025, the World Bank said.
Article continues after this advertisement
