Philippine Daily Inquirer-Jul 8, 2026

Last July 1, the Philippines achieved its elusive dream of becoming an upper-middle-income economy, joining Jordan, Micronesia, Sri Lanka, and Vietnam that went up a level on the latest classification of the World Bank. The World Bank said the Philippines achieved its higher status “through broad-based expansion,” noting that the country’s gross domestic product grew at an average of 5.8 percent a year over five years, “reflecting gains across all major industries, not a single sector boom, but an economy-wide shift.”

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https://opinion.inquirer.net/192954/no-instant-prosperity First published in Philippine Daily Inquirer