Philippine Finance Secretary Ralph Recto announces the country is on the verge of reaching upper middle-income status, with GNI per capita expected to hit $6,119 by 2029.

MANILA, Philippines — Based on most recent data and projections, a majority of our people are poor. The upper class (rich and upper-income) constitutes about 1.4 percent of the population. This small ...

The latest study by the state-owned think tank Philippine Institute for Development Studies, or PIDS, showed that, relative to the World Bank's upper-middle-income country poverty threshold of $8.30 a ...

MANILA, Philippines — The Philippine economy can grow by close to seven percent per year and become a middle-class society by 2040 if it fully implements reforms that boost productivity and job ...