Philippines adopts Makati Declaration at UN-backed conference

A United Nations-supported strategic action plan to aid middle-income states was adopted in the Philippines on Tuesday following a two-day High-Level Conference of Middle-Income Countries hosted by the Philippine government.

The Makati Declaration outlines priorities such as financing for development, measuring development beyond GDP, and climate action, aiming to help MICs avoid falling into the 'middle-income trap'.

Foreign Affairs Secretary Enrique Manalo highlighted that despite rapid economic growth, MICs face challenges like inequality and unemployment, emphasizing the need for international support.

The declaration also includes priorities such as debt sustainability, climate action and finance, digital transformation, science technology innovation, gender equality, and decent work and social protection.

UN officials pledged continued support for MICs, with UNDP planning to adapt its approach as the Philippines transitions to an upper-middle-income status while addressing regional inequalities.

Department of Economy, Planning, and Development Secretary Arsenio Balisacan said the move affirms the countries' shared experiences as MICs and emphasizes the need for sustained reforms and enhanced international cooperation to help them avoid stagnation and transition successfully to high-income status.