Arsenio Balisacan

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World Bank reclassifies the Philippines as upper-middle-income

As of July 2026: Leads the agency tracking the milestone and its costs; acknowledged income disparities persist despite the upgrade

On July 1, 2026, the World Bank raised the Philippines to upper-middle-income status for the first time since 1987. Income per person reached $4,850, clearing the $4,636 cutoff after 39 years in the lower tier.

Updated Jul 3

Notable Quotes

"This confirms the resilience of the Philippine economy," Balisacan said.

from World Bank reclassifies the Philippines as upper-middle-income · Updated Jul 3

"We acknowledge that income disparities persist, and many continue to face economic difficulties. Our priority is to ensure that growth becomes more inclusive, and that its benefits reach all Filipinos."

from World Bank reclassifies the Philippines as upper-middle-income · Updated Jul 3