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Philippines reaches upper-middle income country rank
MANILA: The Philippines has been reclassified by the World Bank as an upper-middle income country — a target it has been trying to achieve since the 1980s — after posting a record gross national income per capita of $4,850. The upper-middle income, or UMIC, rank is the World Bank’s category for economies with GNI per capita ranging from $4,636 to $14,375. The Philippines was previously in the global lender’s lower-middle income bracket.
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rappler.com
Philippines reaches upper-middle income status — World Bank
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
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gulfnews.com
Breakthrough: Philippines hits upper-middle income club — what it means
Philippines achieves upper-middle income status after years of robust growth. Experts warn the hardest work lies ahead to avoid the middle-income trap.
