By Cielito F. Habito
Philippine Daily Inquirer-Jul 7, 2026
Our upgrade to an upper middle-income country (UMIC), announced last week by the World Bank (WB), was met with a mix of reactions, ranging from unreserved cheers to dismissive put-downs, depending on the perspectives and persuasions of those who are commenting. The announcement included Vietnam, which has likewise just achieved UMIC status with a per capita gross national income (GNI) of $4,970, just slightly exceeding our $4,850. But, adjusted for purchasing power parity, their much lower domestic prices put their PPP-adjusted per capita GNI of $16,800, much higher than our $13,800, with their income distribution also better than ours.
Read more at: https://opinion.inquirer.net/192929/the-burden-of-being-richer
First published in Philippine Daily Inquirer
