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Additionally, the Philippines and the World Bank have set goals for the Philippines by 2040. By that time, the Philippines wants to be free from poverty and sustain a prosperous middle class. [39] In order to do so, the World Bank estimates that income per capita must triple by way of having its economy grow at an average annual rate of 6.5%. [40]
"Inside the World Bank's new inequality indicator: The number of countries with high inequality". World Bank. {}: CS1 maint: multiple names: authors list ; Global Peace Index Map of Gini data for 2007–2010; Shadow economies all over the world : new estimates for 162 countries from 1999 to 2007. Friedrich Schneider, Andreas Buehn, Claudio E ...
The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [31] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.
According to World Bank Country Director Motoo Konishi, the Philippines had become a "rising tiger" in East Asia. However, at the same time, during the 2010–2011 fiscal year, the increase in the wealth of the richest families in the Philippines, amounting to 47.39%, comprised 76.5% of the GDP increase for that year. [4]
Children in the Philippines are particularly vulnerable to the effects of poverty and suffer high rates of mortality for those below 5 years old. [15] The UNICEF and World Bank reported that as of 2022, more than 32 million children were living in poverty in the Philippines, including 5 million children living in extreme poverty. [16]
The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF's definitive data for the past year and estimates for the current year are published twice a year in ...
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
The World Bank contributes to the National Development Agenda through policy advice and financing on priority medium-term structural issues. 26th Floor, One Global Place 5th Ave. corner 25th St. Bonifacio Global City, Taguig City Philippines 1634: Philippine Rural Development Project, Philippines Renewable Energy Development, Access to ...