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Manila Bulletin devider Philippines devider National devider Marcos confident PH can attain upper-middle-income status within his term

Marcos confident PH can attain upper-middle-income status within his term

Published Jul 3, 2025 02:13 pm
President Marcos is optimistic that the country would achieve upper-middle-income status during his presidency, Malacañang said.
President Ferdinand R. Marcos Jr. spearheads the bell-ringing ceremony at the Philippine Stock Exchange in Taguig City on July 1, 2025, to celebrate the rollout of the Capital Markets Efficiency Promotion Act (CMEPA). (Mark Balmores/MB)
President Ferdinand R. Marcos Jr. spearheads the bell-ringing ceremony at the Philippine Stock Exchange in Taguig City on July 1, 2025, to celebrate the rollout of the Capital Markets Efficiency Promotion Act (CMEPA). (Mark Balmores/MB)
Palace Press Officer and Communications Undersecretary Claire Castro said the administration will double its efforts in order to attain the status.
“[L]agi pong positibo ang Pangulo, pati ang economic team, pati ang buong administrasyon. So, kakayanin natin iyan (The President is always positive, including the economic team, and the entire administration. So, we can do it),” Castro said in a Palace briefing on Thursday, July 3.
“Dodoblehin pa rin po ang pagsisikap ng pamahalaan para po mas maabot natin ang ninanais na maitawid natin ito sa pagiging upper-middle-income status (The government will double its efforts in order to achieve our goal to reach the upper-middle-income status),” she added.
Asked if the administration will undertake some adjustments in order to achieve this goal, Castro said she will have to ask the economic team.
“Pero muli pag-iibayuhin pa rin po ng pamahalaan para po kung anuman ang ating ninanais ng Pangulo para po sa ating ekonomiya at para sa taumbayan. Pipilitin po natin itong maabot kahit po siguro mayroon pang mga kondisyon globally sa mga nangyayari ngayon (But again, the government will work hard to attain the President's aspiration for our economy and for the people. We will strive to achieve this, even if there are still global conditions amid what's happening now),” Castro said.
Marcos' chief economic manager said that achieving upper-middle-income country (UMIC) status is definitely attainable by the end of 2025 or 2026, citing the still expansionary national budget planned for next year to stimulate the economy.
“Surely, we will attain UMIC status by the end of the year or next year,” Department of Finance (DOF) Secretary Ralph Recto told Manila Bulletin on Wednesday.

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upper-middle-income country (UMIC) status President Marcos Claire Castro
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