Marcos administration sees Philippines enter upper-middle income group

The Philippines has joined the ranks of Malaysia, Thailand, China, Indonesia, Brazil and Mexico after the World Bank upgraded the country to upper-middle income status under the Marcos administration.

The reclassification came after the country’s gross national income per capita rose above the World Bank’s threshold in 2025. 

The Department of Economy, Planning, and Development said the upgrade reflected sustained growth, sound macroeconomic management and long-term structural reforms. 

“This confirms the resilience of the Philippine economy,” DEPDev Secretary Arsenio M. Balisacan said. “Despite global and domestic shocks, we have relentlessly pursued inclusive growth, strengthened fundamentals, and remained on track with our development agenda.”

The World Bank uses gross national income per capita to classify economies based on the income earned by their residents and businesses, including income from abroad. 

The government said the new status is expected to strengthen the country’s credit profile, boost investor confidence and support access to more financing and higher-quality investments.

—Edited by Miguel R. Camus