Philippines Misses Upper-Middle-Income Status in 2025 – World Bank

The Philippines remains classified as a lower-middle-income economy, having narrowly missed the World Bank’s 2025 threshold for upper-middle-income status. The country posted a gross national income (GNI) per capita of USD4,470 in 2023—just USD26 shy of the USD4,496 cut-off.

Vietnam, with a GNI of USD4,490, also stayed in the same bracket. Other Southeast Asian peers such as Malaysia, Thailand, and Indonesia have achieved upper-middle-income status, while Singapore and Brunei are high-income nations.

The World Bank attributed the Philippines’ classification to slower-than-expected growth and persistent inflation. While the government aims to reach upper-middle-income status by 2026, the World Bank believes it may take until 2027. Analysts cited competitiveness issues and structural barriers that may delay income progression.