Palace: RP must not fall back to Third World status

The Philippines will no longer fall back to Third World status since its per capita income has improved with its economic momentum going up, Malacañang asserted yesterday.

"The increase in per capita income — the first in many years — only proves that we are on the right track. We are now seeing the payback of President (Arroyo’s) firm resolve and tough decisions," Press Secretary Ignacio Bunye said.

"The country’s economic momentum is up, the people’s faith and drive are unrelenting and this is the time to surge forward and not fall back," he said.

Bunye though admitted that so much had yet to be done for every Filipino to feel the gains the administration was extolling.

"Our economic plan is in place and slowly we are reaping its fruits. But the job is not halfway through and we must all make sure our economic gains are felt by every Filipino through better employment, food in every table and improved social services," he said.

The President earlier declared the Philippines had "graduated" to being a Second World country as its "people will be enjoying a per capita income of $1,400 this year."

"Right now, we’re not Third World anymore, at $1,400, we are now Second World, a middle class country and we’ll be able to achieve, if we are able to continue to trajectory of one percent decline in the poverty level, we can reach hopefully the First World status by the year 2020," she told the audience during the annual Gridiron of the National Press Club (NPC).