Balisacan: Reversal of Philippine Wealth Status Now ‘Quite Remote’

WHAT NOW, WEDNESDAY | The Economy Is Improving. Why Doesn’t It Feel That Way Yet?

TAGUIG CITY (MindaNews/8 July 2026)– On paper, the Philippine economy appears to be doing many things right. Economic growth remains among the strongest in Southeast Asia. Inflation has eased considerably from its painful highs. Unemployment is relatively low. More tourists are arriving. More infrastructure is being built. Investors continue to express confidence in the country. Just last week, the World Bank officially reclassified the Philippi…

PH's upper-middle income status won't raise loan costs yet

MANILA, Philippines — Malacañang on Monday sought to ease concerns that the Philippines’ transition to upper middle-income country status could immediately raise government borrowing costs, saying any impact on loans from multilateral development institutions would likely be delayed and minimal. Citing Finance Secretary Frederick Go, Palace press officer Claire Castro said changes in loan terms tied to the country’s economic classification would…

The Philippines is now upper-middle income. Why doesn’t it feel that way?

After hitting this milestone, the country’s chief economist says the challenge is now both 'making the growth faster' and 'more inclusive so that poverty reduction can be faster'

Balisacan: Reversal of Philippine wealth status now ‘quite remote’

The Philippines is poised to defend its newly minted status as an upper-middle-income economy, according to Socioeconomic Planning Secretary Arsenio Balisacan,...

‘Income status upgrade meaningless to the poor’

A VETERAN Caloocan City lawmaker on Sunday dismissed the World Bank’s (WB) recent reclassification of the Philippines as an upper-middle-income country, saying it holds little meaning for the vast majority of Filipinos whose actual earnings remain far below the reported national average.District 1 Rep. Edgar Erice, interviewed by The Manila Times via Viber, noted that the WB’s upgrade was based on the country’s Gross National Income (GNI) per ca…

DEPDev: Government To Pursue Reforms To Sustain Growth

The Philippine government will continue to implement reforms to make economic growth more inclusive and to make sure that the country’s upper-middle income (UMIC) status will be sustained, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio Balisacan has said. In a briefing on Monday, Balisacan said the Philippines is also unlikely to return to its lower-middle-income status despite global and local headwinds to growth. L…