Protect Middle Class to Prop Up Growth, ADBI Urges Government

MANILA, Philippines — The government should protect middle-class purchasing power through targeted aid to prevent weaker household consumption from becoming a bigger drag on economic growth, the Asian Development Bank Institute (ADBI) said. ADBI dean and CEO Bambang Brodjonegoro said the government should direct its efforts toward the middle class because it accounts for the bulk of domestic consumption. "The middle class is the engine of growth," Brodjonegoro said in a statement. He noted that the government should provide targeted aid to the middle class to prevent weaker household consumption from becoming a bigger drag on economic growth. "The government should also ensure that the middle class is protected from the negative impacts of inflation," he added. He said that the government should also ensure that the middle class is protected from the negative impacts of inflation. "The government should also ensure that the middle class is protected from the negative impacts of inflation," he said. "The government should also ensure that the middle class is protected from the negative impacts of inflation," he said. "The government should also ensure that the middle class is protected from the negative impacts of inflation," he said. "The government should also ensure that the middle class is protected from the negative impacts of inflation," he said. Source: Inquirer Business