02/07/2026
According to the World Bank the Philippines has now reached upper-middle income status. It achieved its reclassification through broad-based expansion. GDP grew at an average of 5.8% per year over five years, reflecting gains across all major industries, not a single sector boom, but an economy-wide shift.
The World Bank upgrade marks a long-sought economic milestone for the Philippines, but high prices, underemployment, and income inequality continue to plague millions of Filipinos