Secretary Arsenio M. Balisacan of the Department of Economy, Planning, and Development (DepDev) expressed the Philippines’ deep honor in hosting the High-Level Ministerial Conference and in assuming the Chairmanship of the Like-Minded Group of Middle-Income Countries (MICs). In his remarks, Secretary Balisacan underscored the critical role of middle-income countries (MICs) in global growth and stability, while highlighting the unique challenges they face.
“We sincerely thank all delegations, United Nations agencies, and development partners for their active engagement and invaluable contributions to the success of this conference,” said Secretary Balisacan. “As we adopt the Makati Declaration, we affirm our shared experiences, challenges, and aspirations as middle-income countries.”
The Makati Declaration, adopted during the conference, represents a collective commitment to addressing the structural challenges that MICs face, including increasing inequality, slow productivity growth, mounting external debt, vulnerability to climate-related and disaster-induced economic losses, and the widening digital divide.
Secretary Balisacan emphasized that despite the diversity of MICs, these countries share common obstacles shaped by evolving global economic and geopolitical dynamics. The Philippines recognizes that while many MICs no longer qualify for traditional development assistance, they continue to face complex, interrelated challenges that hinder their development progress.
“Middle-income countries are vital engines of global growth, innovation, and stability,” Secretary Balisacan said. “However, we find ourselves in a precarious position: without access to traditional development aid, yet burdened by the need for structural reforms and economic transformation.”
In his address, Secretary Balisacan stressed the urgent need for sustained reforms and enhanced international cooperation to enable MICs to avoid stagnation and successfully transition to high-income status. He called for a more nuanced and targeted approach to development assistance, one that goes beyond income-based metrics and focuses on structural transformation, resilience, and equity.
“The Philippines believes that middle-income countries need support that is tailored to our specific development trajectories,” Balisacan said. “Support that focuses on creating the conditions for dynamic growth, economic resilience, and greater equity is essential for our sustained progress.”
Looking ahead, the Philippines is committed to advancing the outcomes of the conference during its tenure as Chair of the Like-Minded Group of Middle-Income Countries. Secretary Balisacan emphasized that under the country’s leadership, the group would work to translate shared priorities into tangible actions and promote sustained, inclusive global partnerships.
“We are confident that through continued dialogue and collective leadership, middle-income countries can usher in a new era of global partnership—one that is rooted in sustainable progress, genuine inclusion, and long-term development,” Secretary Balisacan concluded.
The Philippines will continue to lead discussions and initiatives aimed at advancing the development agendas of middle-income countries, ensuring that their voices are heard and their needs addressed on the global stage.
