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...
The Department of Trade and Industry (DTI) highlighted the country 's strong trade momentum and rising capital inflows as the primary engines behind the Philippines officially hitting Upper Middle-Income Country (UMIC) status. With Gross National Income (GNI) per capita breaching the critical...
Malacañang has stressed that the Philippines ' elevation to upper-middle-income country (UMIC) status does not mean economic difficulties have disappeared for ordinary Filipinos, with President Marcos vowing to continue government interventions for poor and vulnerable sectors. Speaking at a...
President Marcos is not worried about the downsides of the Philippines ' achievement of upper-middle-income status, as he is banking on increased investment. As the country moves up the classification ladder, it may gradually lose access to foreign grants intended for poorer economies. Marcos,...
House members sounded highly skeptical of the World Bank 's (WB) declaration that the Philippines has attained upper-middle-income status, as they noted most Filipino families continued to struggle financially. Caloocan City 2nd district Rep. Edgar "Egay" Erice says that the...
The Philippines ' achievement of upper middle-income status after nearly four decades validates the economic policies pursued by the administration and serves as a "vote of confidence" in the country 's future, President Marcos said. In a video message on Thursday, July 2, Marcos said...
Climbing to upper-middle-income-country (UMIC) status comes with a trade-off: the Philippines faces a looming decline in access to concessional official development assistance (ODA), or low-interest loans extended by the country’s multilateral and bilateral development partners. However, for...
Malacañang has welcomed the Philippines ' official graduation to upper-middle-income country (UMIC) status, saying the milestone signals stronger economic fundamentals and could translate into more jobs and better opportunities for Filipinos. In a statement on Thursday, July 2, Executive...
The Philippines has finally moved up to upper-middle-income status, breaking out of a lower-middle-income classification it held for nearly 40 years. According to new data from the World Bank, the country joined the upper-middle-income bracket, which requires a gross national income (GNI) per...
The Philippines achieved its long-standing goal of attaining upper-middle-income-country (UMIC) status with a record-high gross national income (GNI) per capita in 2025, even as neighboring Vietnam made a bigger stride toward the same World Bank classification. The World Bank announced on Wednesday...
Vietnam widened its lead over the Philippines in terms of gross national income (GNI) per capita as the Southeast Asian neighbors both aspire to attain the World Bank’s upper-middle-income-country (UMIC) status. A World Bank board report dated June 18 and disclosed last Monday, June 29, showed...
