I have to agree with Flock, on this, as Singapore is a whole lot smaller than the Philippines and certainly already was quite wealthy, during the British period. The much more populated Philippines would have the same problems as all developping countries with a vastly growing poor population, namely the destruction of income by the growing number of mouths to feed. (No real choice here, as not feeding the people would lead to an even bigger drop in economical growth.)
The only real option would be to reduce populationgrowth by education of the people, with the also positve sideeffect hte educated population could become more productive as well, although still mainly in agrculture, given the Archipello's lack of natural resources.