President Ferdinand Marcos Jr. on July 2, 2026 (July 3 in Manila) says that he is not worried about the country's potential loss of certain developmental grants after the World Bank’s reclassification of the Philippines as an upper middle-income economy. In a joint press conference with Canadian Prime Minister Mark Carney at Vancouver Convention Center, Marcos said he viewed this transition not as a loss, but as a sign of economic confidence that would attract more direct investments.