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Congratulations Philippines Stop Calling It A 3Rd World Country

Video by @kdht777 (Kevin Dewayne Hughes) • Aug 08, 2026 • Verified Download Ready

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Video Title / Caption	Congratulations Philippines: Stop Calling it a 3rd World Country The Department of Economy, Planning, and Development announced on Wednesday that the Philippines has officially attained the status of an upper-middle-income economy. This classification comes as the country met the required Gross National Income (GNI) per capita threshold set by the World Bank for the 2026 fiscal year. According to the World Bank's criteria, which became effective on July 1, nations within the upper-middle-income bracket must reach a GNI per capita ranging from $4,496 to $13,935. The Philippines reached this milestone after recording a GNI per capita of $4,470 in 2024. Finance Secretary Frederick Go welcomed the news, stating that this achievement reflects the government's consistent efforts to implement reforms and policies aimed at strengthening the national economy. He emphasized that the focus remains on building upon these gains to ensure that economic development benefits a broader segment of the population. While the new status serves as an indicator of improved economic performance, Secretary Go noted that there are no specific incentives directly tied to this shift. He acknowledged that moving to this classification means the country may lose eligibility for certain types of foreign aid and official development assistance, but he described this as a natural consequence of economic growth. Ultimately, Secretary Go highlighted that this classification signifies an increase in national wealth and reflects improvements in job creation and foreign investments. He expressed that this development is a positive sign for the long-term economic well-being of all Filipinos, as it indicates a rise in wealth per capita by global standards. The Journal with Kevin Dewayne Hughes #kdhughes #philippines #economics #wellbeing
TikTok Creator	@kdht777 (Kevin Dewayne Hughes)
Audio Track Name	🎵 original sound - kdht777
Total Plays	13,860 views
Total Likes	❤️ 467 likes
Total Shares	🔁 72 shares

Below is the post about Congratulations Philippines Stop Calling It A 3Rd World shared on TikTok by @kdht777 (Kevin Dewayne Hughes). This video has reached over 13,860 views, 467 likes, and 72 shares on TikTok.

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Congratulations Philippines: Stop Calling it a 3rd World Country The Department of Economy, Planning, and Development announced on Wednesday that the Philippines has officially attained the status of an upper-middle-income economy. This classification comes as the country met the required Gross National Income (GNI) per capita threshold set by the World Bank for the 2026 fiscal year. According to the World Bank's criteria, which became effective on July 1, nations within the upper-middle-income bracket must reach a GNI per capita ranging from $4,496 to $13,935. The Philippines reached this milestone after recording a GNI per capita of $4,470 in 2024. Finance Secretary Frederick Go welcomed the news, stating that this achievement reflects the government's consistent efforts to implement reforms and policies aimed at strengthening the national economy. He emphasized that the focus remains on building upon these gains to ensure that economic development benefits a broader segment of the population. While the new status serves as an indicator of improved economic performance, Secretary Go noted that there are no specific incentives directly tied to this shift. He acknowledged that moving to this classification means the country may lose eligibility for certain types of foreign aid and official development assistance, but he described this as a natural consequence of economic growth. Ultimately, Secretary Go highlighted that this classification signifies an increase in national wealth and reflects improvements in job creation and foreign investments. He expressed that this development is a positive sign for the long-term economic well-being of all Filipinos, as it indicates a rise in wealth per capita by global standards. The Journal with Kevin Dewayne Hughes #kdhughes #philippines #economics #wellbeing

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