PHL likely to reach upper middle-income economy status by ’27

By Luisa Maria Jacinta C. Jocson, Senior Reporter

THE PHILIPPINES is more likely to achieve upper middle-income status by 2027, a year later than the government’s target, given the current growth prospects, the World Bank said.

“The more likely scenario is that it will take a couple of years. It won’t be 2026. It’s more likely that it may be 2027,” World Bank Group Lead Economist and Program Leader for the Prosperity Unit for Brunei, Malaysia and the Philippines Gonzalo Varela told reporters on the sidelines of an event on Monday.