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Philippines nears upper-middle-income status: WB

The WB classifies those with a GNI per capita between 4,496 USD and 13,935 USD as upper-middle-income economies.

Hanoi (VNA) – The World Bank (WB) has assessed that the Philippines is approaching upper-middle-income status, based on current growth trends in gross national income (GNI) per capita.

The country’s English-language newspaper Philippine Star cited the multilateral lender as saying that the Philippines is projected to be close to the upper-middle-income threshold.

The bank’s list of new income classification and thresholds will be updated on July 1.

Data released by the WB last year showed that the Philippines remained a lower-middle-income country, with its GNI per capita reaching 4,470 USD in 2024.

The bank classifies economies with a GNI per capita calculated using the Atlas method of 1,136 USD to 4,495 USD as lower-middle-income countries. Meanwhile, those with a GNI per capita between 4,496 USD and 13,935 USD are classified as upper-middle-income economies. High-income ones are those with a GNI per capita of over 13,935 USD.

The Philippines has been part of the lower-middle-income group since 1987./.

VNA
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