President Ferdinand Marcos Jr. celebrated the World Bank’s recent elevation of the Philippines to an upper middle-income country, viewing the reclassification as a testament to the nation’s economic stride and the viability of state-led reforms.
Speaking from Canada during an official visit, the President shared a recorded video message on social media, promising that his administration would remain focused on translating these macro-level gains into tangible benefits for ordinary citizens.
“The Philippines has officially become an upper middle-income country. After nearly four decades as a lower middle-income country since 1987, this milestone affirmed that the economic policies that we have pursued over the past four years have been effective,” the President said.
Marcos attributed this financial breakthrough to a combination of persistent fiscal expansion, a largely resilient currency, and deep-seated structural changes, which collectively insulated the local economy from global market volatility.
“It validates the progress that we have made and the resilience of the Filipino people. It is also a vote of confidence in our country’s future,” he said.
He noted that the upgraded status serves as a green light for global markets, which will ultimately cycle back to help local communities.
“Greater confidence means more investments. More investments means more businesses, better quality jobs, and more opportunities for Filipino families,” the President added.
The promotion follows the World Bank’s global income adjustment, where the Philippines breached the upper middle-income floor of $4,636 by securing a gross national income (GNI) per capita of $4,850.
Marcos emphasized that while the paperwork reflects an economic win, the real triumph lies in how it transforms everyday lives.
“It is meant to open doors, put food on the table, and give every Filipino the chance to build a better life. That is the work that we will continue to do until every family feels the benefit of our country’s progress,” he added.