BUSINESS● LOWJul 9 · Jul 9, 2026, 3:04 AM
Philippines got an economic upgrade, yet many Filipinos feel it’s no ‘big deal’
South China Morning Post
The World Bank recently upgraded the Philippines to an upper-middle-income country, but that classification makes little difference to many Filipinos grappling with rising cost of living, debt and stagnant wages. Manila resident Ann Michelle Federez-Abato, 35, said her entire salary goes towards her parents’ mortgage, while she and her two-year-old daughter subsist on a monthly remittance of 20,000 pesos (US$324) from her husband, who works abroad as a production officer at a factory. Much of...
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