Manila, July 2 -- Government reforms to strengthen the country's economic fundamentals helped the Philippines achieve its upper-middle income country (UMIC) status, Finance Secretary Frederick Go said, noting that the government will continue its efforts to improve Filipinos' lives.

"The Philippines' transition to an upper middle-income country is an affirmation of the reforms and policies that the government has consistently pursued to strengthen our economic fundamentals and create more opportunities for our people," Go said in a statement Thursday.

"Now, we must continue to build on these gains so that the benefits of economic development reach more Filipinos," he added.

In its latest income assessment released late Wednesday, the ...