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Philippines Classified Upper-Middle-Income After Per-Capita GNI Reaches $4,850
The World Bank on July 1, 2026, placed the Philippines in the upper-middle-income category after gross national income per capita hit $4,850. The country had remained lower-middle-income since 1987.
Jul 2, 1:39 AM·1m read1 source
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The World Bank on July 1, 2026, classified the Philippines as an upper-middle-income country after gross national income per capita reached $4,850, above the $4,636 threshold, Rappler reported. The country had been listed as lower-middle-income since 1987. President Ferdinand Marcos Jr.
“After nearly four decades as a lower middle income country since 1987, this milestone affirms that the economic policies we have pursued over the past four years have been effective,” Marcos stated during an official visit to Canada. Marcos added that steady economic growth, a broadly stable currency, and long-term reforms have strengthened the economy amid global uncertainties.
He said greater confidence would bring more investments, businesses, higher-quality jobs, and opportunities for Filipino families.
Government data showed headline inflation at 6.8 percent in May 2026, above the Bangko Sentral ng Pilipinas 2 percent to 4 percent target range. Marcos described the status upgrade as worth celebrating because economic progress should open doors and improve daily life.
