President Ferdinand “Bongbong” Marcos Jr. said the Philippines is now prepared to move into the ranks of upper middle-income economies, emphasizing the need for accountability and aligned reforms to sustain progress.
Speaking at the Philippine Development Forum (PDF) 2025 on Monday, Marcos said the country’s economic gains over the past years have positioned it for a major transition.
“This forum also marks our readiness for the next step: our transition to upper middle-income country status,” Marcos said in his address. He added that such a milestone “demands a kind of partnership built on stronger alignment, shared goals, and genuine national ownership.”
Malacañang earlier expressed optimism that the Philippines would achieve upper middle-income status under the current administration.
According to the World Bank’s classification for fiscal year 2026, however, the Philippines remains a lower middle-income economy. The country’s gross national income (GNI) per capita rose to $4,470 in 2024 from $4,320 in 2023—still short of the upper middle-income threshold.
The World Bank has projected that the country’s elevation to upper middle-income status could take place as early as 2027.
