Economy
Philippines Joins Upper-Middle Income Club, Faces Growth Test
The Philippines has been reclassified as an upper-middle income country (UMIC) by the World Bank, with per capita GNI just above the threshold. However, recent growth slowdowns pose a challenge to maintaining this classification.
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- Philippines Reaches Upper-Middle Income Status Amidst Growing Inequality Concerns
The Philippines has been classified as an Upper-Middle Income Country (UMIC) by the World Bank, meeting the threshold for gross national income (GNI) per capita. However, concerns remain about widening inequality, as the benefits of economic growth have not reached all citizens.