MANILA, Philippines — The Philippines has attained upper-middle-income status, the World Bank said on Wednesday, marking a long-sought milestone that underscores the country’s economic gains

The World Bank upgrade marks a long-sought economic milestone for the Philippines, but high prices, underemployment, and income inequality continue to plague millions of Filipinos

Philippines achieves upper-middle income status after years of robust growth. Experts warn the hardest work lies ahead to avoid the middle-income trap.