Balisacan urges shift from household spending, service sector reliance

MANILA, Philippines – The Philippines must move away from household consumption and the services sector as key growth drivers, Socioeconomic Planning Secretary Arsenio Balisacan said on Monday, calling them a “central structural challenge” that limits economic productivity. Balisacan said the nation must diversify its economic mix to build resilience against external shocks, and as the Philippines…