VANCOUVER, Canada — President Ferdinand Marcos Jr. on Thursday welcomed the Philippines’ attainment of upper middle-income status, saying the milestone is a "vote of confidence in our country’s future."
"For years, Filipinos have worked hard to build this country. Today, the world has taken notice. The Philippines has officially become an Upper-Middle-Income Country," Marcos said in a video message.
"After nearly four decades as a lower-middle-income country since 1987, this milestone affirms that the economic policies we have pursued over the past four years have been effective," he added.
Marcos said that the Philippines' steady economic growth, broadly stable currency and long-term reforms have strengthened our economy even amid global uncertainties.
He also said that it validated the progress we have made and the resilience of the Filipino people.
"It is also a vote of confidence in our country’s future. Greater confidence means more investments. More investments mean more businesses, better quality jobs and more opportunities for Filipino families," Marcos said.
"This is worth celebrating because economic progress is not meant to stay on paper. It is meant to open doors, put food on the table and give every Filipino the chance to build a better life," he added.
