Senator Loren Legarda
MANILA, Philippines – Senator Loren Legarda has filed Resolution No. 505 directing the Senate to conduct an inquiry in aid of legislation on the Philippines’ recent reclassification as an Upper Middle-Income Country (UMIC) by the World Bank.
The resolution calls for a deeper examination of how this long-delayed economic milestone can be transformed into genuine social progress, ensuring that prosperity on paper is matched by dignity, opportunity, and security in the daily lives of Filipinos.
Effective July 1, 2026, the World Bank elevated the Philippines to UMIC status after the country posted a Gross National Income (GNI) per capita of $4,850 in 2025, surpassing the threshold of $4,636.
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