Philippines got an economic upgrade, yet many Filipinos feel it’s no ‘big deal’
AI Summary
The World Bank upgraded the Philippines to an upper-middle-income country based on gross national income per capita, but many Filipinos remain skeptical, citing ongoing struggles with inflation, debt, and stagnant wages. The announcement has sparked public debate about economic conditions.
The World Bank recently upgraded the Philippines to an upper-middle-income country, but that classification makes little difference to many Filipinos grappling with rising cost of living, debt and stagnant wages. “I laughed actually. Like, for real? Where did the data come from?” Ann Michelle Federez-Abato said of the July 1 announcement that her country’s gross national income (GNI) per capita had reached US$4,850 in 2025, surpassing the US$4,636 cut-off for upper-middle-income...