Ottawa: President Ferdinand R. Marcos Jr. on Wednesday (Canada time) pledged to sustain the country's economic gains following the Philippines' attainment of upper-middle income country status. Marcos expressed optimism that the milestone would translate into more opportunities for Filipinos, saying the new classification reflects the effectiveness of economic policies and reforms implemented over the past four years.
According to Philippines News Agency, the World Bank confirmed the upgrade in its latest income assessment on Wednesday, reporting the Philippines' gross national income (GNI) per capita as USD4,850, exceeding the USD4,636 upper-middle-income country threshold. The shift was underpinned by steady economic expansion, with Gross Domestic Product growing by an average of 5.8 percent from 2021 to 2025. Strong performance across all industries raised GNI per capita by 8.5 percent in 2025, lifting the Philippines from the lower-middle into the upper-middle income category.
"For years, Filipinos have worked hard to build this country. Today, the world has taken notice. The Philippines has officially become an Upper-Middle-Income Country," Marcos said in a statement, noting that the country had remained a lower-middle-income economy since 1987. He said the country's new status affirms the government's efforts to keep the economy robust despite global uncertainties and credited the resilience and hard work of the Filipino people for the country's economic progress.
Marcos highlighted that the new income classification is expected to boost investor confidence, attract more investments, encourage expansion, and generate better-quality jobs for Filipinos. He emphasized that economic growth should bring tangible benefits to ordinary citizens, stating, "It is also a vote of confidence in our country's future. Greater confidence means more investments. More investments mean more businesses, better quality jobs and more opportunities for Filipino families."
He added that the economic progress should not just remain theoretical but should be reflected in the everyday lives of Filipinos, ensuring that it opens doors, puts food on the table, and gives every Filipino the chance to build a better life. Marcos assured that the administration would continue implementing policies aimed at ensuring that the gains from economic growth are felt by the people. "That is the work we will continue to do until every family feels the benefits of our country's progress," he said.
