Manila should ensure that restrictions on food imports are in place in light of the expected El Niño to protect vulnerable sectors, according to the Asian Development Bank (ADB).
MANILA should ensure that restrictions on food imports are in place in light of the expected El Niño to protect vulnerable sectors, according to the Asian Development Bank .
“I don’t anticipate that El Niño itself will have a dent on the Philippines’s economic growth, we think it’s at its potential now, around 6 percent, I think that will continue,” Bird said. He hailed the plan of the national government, through the Department of Social Welfare and Development , to develop a food stamp program to provide food stamps to a million households for several years.
Being classified as a UMIC means the country’s Gross National Income per capita, based on World Bank classifications, increased to between $4,256 and $13,205. As a lower middle income country, the Philippines’ GNI per capita falls between $1,086 and $4,255. In ADB’s case, members such as Brunei Darussalam; Hong Kong, China; the Republic of Korea; Singapore; and Taipei, China have already graduated from concessional lending.
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