在经历了近四十年的中低收入水平之后，菲律宾已被世界银行归类为中高收入国家。小费迪南德·马科斯总统称这一进展是对该国发展潜力的信任票。
世界银行报告了这一变化，并指出过去五年菲律宾的国内生产总值平均年增长率为5.8%。马科斯总统在温哥华发表的视频讲话中表示，这一里程碑验证了本届政府过去四年的经济政策。马科斯指出，此次升级肯定了在面临全球不确定性时该国稳健的经济增长和长期改革。他补充说，更大的信心将带来更多的投资，并为菲律宾家庭提供更好的工作和机会。执行秘书拉尔夫·雷克托指出，达到这一地位并非终点。他表示，政府旨在继续在营商便利度、数字互联互通、教育和气候韧性方面推进改革。一些团体对此表示怀疑。ACT Teachers党团众议员安东尼奥·蒂尼奥及其他人认为，这一分类并不能反映普通工人低工资等现实状况。
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President Ferdinand Marcos Jr. has approved a service contracting program for public utility vehicles, a P10-per-liter fuel subsidy starting April 15, and the release of P8 billion in assistance for over 42,000 barangays nationwide to cushion impacts from the Middle East crisis such as higher fuel prices, a weaker peso, and threats to livelihoods, Malacañang said Thursday. PUV drivers will receive additional income of P40 to P100 per kilometer, while commuters get at least 20% fare discounts on routes linked to trains and major bus lines.
The Philippines has been reclassified by the World Bank as an upper-middle-income economy. The change reflects a gross national income per capita of $4,850, exceeding the $4,636 threshold.
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The Philippine government is reviewing whether to seek a supplemental budget from Congress for its UPLIFT program. This follows an earlier plan to obtain funding from the Asian Development Bank instead.
Leaders at the 48th ASEAN Summit in Cebu agreed to advance a shared power grid and a regional maritime center, though details remain pending, Philippine President Ferdinand Marcos Jr. said on May 8.
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A new analysis shows that an oil shock may drive more than 396,000 low-income households in the Philippines below the poverty line through higher food and transport costs.