The ๐ฎ๐ฎ๐ป๐ฑ ๐๐ฒ๐๐ฒ๐น๐ผ๐ฝ๐บ๐ฒ๐ป๐ ๐ฃ๐ผ๐น๐ถ๐ฐ๐ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ ๐ผ๐ป๐๐ต (๐๐ฃ๐ฅ๐ ) ๐๐ถ๐ฐ๐ธ๐ผ๐ณ๐ณ ๐๐ผ๐ฟ๐๐บ ๐ฎ๐ป๐ฑ ๐ฃ๐ฟ๐ฒ๐๐ ๐๐ผ๐ป๐ณ๐ฒ๐ฟ๐ฒ๐ป๐ฐ๐ฒ was held on September 5, 2024, at Novotel Manila, Cubao, Quezon City, National Capital Region (NCR), Philippines. The theme, โSecuring a Future for All by Growing a Resilient Middle Class,โ is grounded on the Philippinesโ AmBisyon Natin 2040, which envisions โa prosperous middle-class society where no one is poor.” It emphasizes the middle classโ quality of life and their role in promoting the countryโs development, according to the Philippine Institute for Development Studies (PIDS), a nonstock, nonprofit government corporation engaged in the conduct of long-term policy-oriented research in the Philippines.
Dr. Jose Ramon Albert, Dr. Roehlano Briones, and Dr. John Paolo Rivera are the DPRM 2024 Scientific Committee member and a panel experts from the National Economic and Development Authority, Konrad-Adenauer-Stiftung Philippines Office, and Asia Society Philippines.
During the forum and press conference, PIDS Senior Research Fellow Dr. Jose Ramon Albert provided key insights from their study โWealth Creation for Expanding the Middle Class in the Philippinesโ. He described the middle-class household as typically comprising 3 to 4 members, with a monthly income between PHP 24,060 to PHP 144,360. Mr. Albert emphasized that this segment represented around 39.8% of the population in 2021 and plays a critical role in socioeconomic growth due to their access to higher education and income.
However, Mr. Albert explained that many middle-class households have experienced job losses, reduced incomes, and increased expenditure on education and health. He warned that unless action is taken, these setbacks could hinder the middle class from fully contributing to inclusive growth. To address these concerns, the need for comprehensive strategy to not only expand the middle class but also make it resilient against global megatrends that can exacerbate existing inequalities, according to Mr. Albert.
Dr. Jose Ramon Albert and co-authors PIDS Senior Research Fellows Dr. Roehlano Briones and Dr. John Paolo Rivera suggested a four-pronged approach to achieve a sustainable transformation. This includes promoting social justice in natural resource management and climate action, harnessing new opportunities in trade and investments for MSMEs, ensuring a future-ready workforce and social protection, and improving digital governance and public service delivery.
Meanwhile, Undersecretary Rosemarie Edillon of the National Economic and Development Authority (NEDA), who served as one of the forumโs discussants, identified key investment areas that can help fulfill the aspirations of the middle class. These include housing and urban development, agriculture, manufacturing, connectivity, financial services, and tourism. โWe must implement many more strategies so that they can better move up the social ladder,โ she stated. Edillon also highlighted the importance of social protection to ensure the welfare and sustained growth of the middle class.
In discussing the broader governance implications, Ms. Daniela Braun, Country Director of the Konrad Adenauer Stiftung, pointed out that good governance is essential in empowering the middle class. โGood governance is not only a worthy goal in itself, but also a means to achieve economic growth,โ she said, contrasting the effects of corruption in poorly governed countries with the trust and investment spurred by good governance.
The forum concluded with remarks from Atty. Marco Sardillo III, Executive Director of Asia Society Philippines, who underscored the apparent vulnerability of the middle class, particularly during crises such as the COVID-19 pandemic. โThe assumption is that the oligarchs are invested in our politicians, and they look after the poor. It is the middle class that is left to their own devices,โ Sardillo noted. He urged both the government and media to raise awareness on middle-class issues, as a more informed population is better equipped to engage in its own development. โIf more of us were aware of what is at stake when we talk about the middle class, then maybe weโll start taking these issues more seriously,โ Sardillo said.
The DPRM is held every year in September to promote and draw nationwide awareness on the importance of policy research in formulating evidence-based plans, programs, and policies.
Watch the recording of the kick-off forum here:ย https://bit.ly/dprmpresscon2024.
Reference & Media Contact:
Philippine Institute for Development Studies
