MANILA, Philippines — The Philippines is on the brink of achieving its much-coveted upper middle-income country (UMIC) status and is now setting its sights on higher growth goals, Executive Secretary Ralph Recto said. The country recorded a gross national income (GNI) per capita of $4,470 in 2024, leaving it just $26 short of the $4,496 threshold required for the classification. “Twenty-six dollars—roughly the cost of five cups of coffee. That is how close we are,” Recto told an audience of international business leaders on Thursday. Citing World Bank internal projections, Recto said the country was expected to cross the threshold this year,  and accelerate further, with GNI per capita seen to reach $6,119 by 2029. “But claiming that coveted status is but a lap, a pit stop, in a never-ending race. Because improving the lives of every Filipino has no finish line,” he added.