The World Bank has approved its first loan for the Philippines since the country was elevated to upper-middle-income country (UMIC) status in July, financing a $268.62-million project to expand climate-resilient water and sanitation services in three islands, improve water security, and generate...
Vice President Sara Duterte 's husband, lawyer Manases "Mans" Carpio, on Friday, July 31, said his legal team believes there are significant legal issues surrounding the authorization to release their income tax records, arguing that the matter warrants judicial review under the Constitution...
President Marcos has given Congress a "clear policy direction" to finally provide meaningful tax relief to millions of Filipino workers whose purchasing power has been steadily eroded by inflation and the rising cost of living. Thus, said House Committee on Labor and Employment Chairperson Cavite...
Nearly 1 million low-income members of the Social Security System (SSS) are next in line to receive their initial ₱2,000 assistance under the Unified Package for Livelihood, Industry, Food, and Transport (UPLIFT) program, the Department of Social Welfare and Development (DSWD) said on Thursday,...
Senator Joseph Victor “JV” Ejercito is now pushing for a bill seeking to exempt workers and employees earning up to P50,000 per month—or P600,000 annually—from income tax. Ejercito, in filing Senate Bill No. 2341, which seeks to amend the National Internal Revenue Code to exempt...
House Speaker Isabela 6th district Rep. Faustino "Bojie" Dy III and Majority Leader Ilocos Norte 1st district Rep. Sandro Marcos have jointly filed a bill that would turn President Marcos ' tax relief proposal for Filipinos into a reality. Filed on Tuesday, July 28 or a day after President...
Bicol Saro Party-list Rep. Terry Ridon says President Marcos must go all-out to make the country 's cherish upper middle-income economy status trickle down to common Filipinos as a tangible relief or benefit. Ridon posed this ahead of Marcos ' fifth and penultimate State of the Nation...
Senator Paolo “Bam” Aquino IV on Friday, July 24 pushed for the passage of the bill seeking to raise the annual income tax exemption threshold from P250,000 to P480,000. Aquino said this would increase the take-home pay of more Filipino workers and help them cope with the already high cost of...
The Department of Social Welfare and Development (DSWD) said it will begin distributing cash assistance under the government 's Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) program next week, with about 7.5 million poor, near-poor, and low-income households set to...
At long last, as of July 2026, the Philippines has attained Upper-Middle-Income status, as announced by the World Bank on July 1, 2026. This reclassification from Lower-Middle-Income to Upper-Middle-Income marks an important milestone in our efforts to eventually be considered a High-Income...
Banish the thought that the World Bank 's classification of the Philippines as an “upper-middle-income” economy is the silver bullet to slay the dragon of widespread poverty. It is a myth—not reality. Find out why. From 1987 to 2025—spanning almost four decades—the Republic of the...
While the Philippines’ graduation to upper-middle-income-country (UMIC) status is a nod to its economic progress, President Ferdinand R. Marcos Jr.’s chief economic manager said the milestone alone cannot do the heavy lifting needed for the country to achieve an ‘A’-level sovereign credit...
