The WB's latest country income classifications, released on July 1, moved the Philippines from lower-middle-income to upper-middle-income status based on 2025 gross national income per capita estimates.
Vietnam's economy has continued to perform strongly in 2024, evidenced by the latest Asian Development Bank’s Asian Development Outlook, which highlights Vietnam’s impressive economic performance, said Hal Hill, an emeritus professor at the Crawford School of Public Policy at the Australian National University.