President Ferdinand Marcos Jr. on Thursday welcomed the World Bank's announcement of the country’s elevation to upper-middle-income status, as it underscores Filipinos’ resilience amid domestic and global headwinds.

“For years, Filipinos have worked hard to build this country. Today, the world has taken notice.

After nearly four decades as a lower-middle-income country since 1987, this milestone affirms that the economic policies that we have pursued over the past four years have been effective,” the President said in a video message.

The President said the country’s steady economic growth, broadly stable currency, and long-term reforms have strengthened the economy even amid global uncertainties.

“It validates the progress that we have made and the resilience of the Filipino people.

It is also a vote of confidence in our country's future. Greater confidence means more investments. More investment means more businesses, better-quality jobs, and more opportunities for Filipino families. This is worth celebrating because economic progress is not meant to stay on paper. It is meant to open doors, put food on the table, and give every Filipino the chance to build a better life,” he stressed.

The World Bank, in its report, noted that the Philippines' ascent to upper-middle-income status was fueled by broad-based economic expansion, with the economy posting an average annual gross domestic product (GDP) of 5.8 percent over the past five years—evidence that growth has been driven across multiple industries rather than by a single sector.

Zafer Mustafaoğlu, World Bank's Division Director for the Philippines, Malaysia, and Brunei, described the reclassification as recognition of the country’s long-term economic progress.

Based on estimates by the Department of Economy, Planning, and Development (DEPDev), the country's gross national income (GNI) per capita reached $4,850 in 2025, exceeding the World Bank's upper middle-income threshold of $4,636.

Aside from the Philippines, the Bank also elevated the status of Jordan, Micronesia, Sri Lanka and Vietnam, which signals stronger economic fundamentals and global market confidence.

DepDev Secretary Arsenio Balisacan, for his part, credited overseas Filipino workers for helping raise the country’s national income through remittances.

“Our OFWs have played an important role in reaching this milestone. At the same time, our long-term goal is to create more high-quality jobs at home so overseas employment becomes a choice, not a necessity.”

Despite the milestone, Balisacan emphasized that the government’s focus remains on making growth more inclusive.

“We acknowledge that income disparities persist, and many continue to face economic difficulties. Our priority is to ensure that growth becomes more inclusive, and that its benefits reach all Filipinos,” Balisacan said.