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Open Dialogue MICs Conference 2013 Vienna May 8, Presentation by Philippines

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Thematic Dialogue on Environmental Sustainability and Green Industry, Inclusive Growth and Prosperity and Financing for Sustainable Economic Development

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Open Dialogue MICs Conference 2013 Vienna May 8, Presentation by Philippines

  1. 1. at theat theOpen Dialogue and ConsultationsOpen Dialogue and ConsultationsHigh-Level Conference of MiddleHigh-Level Conference of MiddleIncome CountriesIncome Countries08 May 201308 May 2013
  2. 2. • Rise of the Middle-Income CountriesRise of the Middle-Income Countries 2/3 of world population2/3 of world population 40% of world gross product,40% of world gross product,• A positive developmentA positive development• A new engine of growth for the globalA new engine of growth for the globaleconomyeconomy
  3. 3. CHALLENGESCHALLENGES Sustain high levels of growthSustain high levels of growth Address social and institutional, financial,Address social and institutional, financial,production vulnerabilitiesproduction vulnerabilities Close domestic poverty gaps/high levels ofClose domestic poverty gaps/high levels ofincome inequalityincome inequality Prevent reversals in economic and socialPrevent reversals in economic and socialachievements of middle income countriesachievements of middle income countries
  4. 4. REDUCING EXTREME POVERTYREDUCING EXTREME POVERTY strong economic growth has lifted millions ofstrong economic growth has lifted millions ofpeople out of poverty and createdpeople out of poverty and createdburgeoning middle classesburgeoning middle classes has helped achieve MDG target of reducinghas helped achieve MDG target of reducingglobal poverty 5 years ahead of timeglobal poverty 5 years ahead of time despite decline in global extreme povertydespite decline in global extreme povertyoverall, middle income countries nowoverall, middle income countries nowaccount for 64% of world’s pooraccount for 64% of world’s poor
  5. 5. CHALLENGE: ENSURINGCHALLENGE: ENSURINGGROWTH WITH EQUITYGROWTH WITH EQUITY pursue poverty-focused interventions andpursue poverty-focused interventions andsocial assistance programs (eg., conditionalsocial assistance programs (eg., conditionalcash transfers).cash transfers). Energize the countryside with infrastructureEnergize the countryside with infrastructuredevelopment and modernization ofdevelopment and modernization ofagricultureagriculture Keep interest rates and inflation levels lowKeep interest rates and inflation levels low
  6. 6. CHALLENGE: HARNESSING PUBLIC-CHALLENGE: HARNESSING PUBLIC-PRIVATE SECTOR PARTNERSHIPSPRIVATE SECTOR PARTNERSHIPS attract additional resources for capital-intensiveattract additional resources for capital-intensiveinfrastructure and other development projectsinfrastructure and other development projects offer more efficient and accelerated provision ofoffer more efficient and accelerated provision ofpublic goods and servicespublic goods and services help improve road network quality, transporthelp improve road network quality, transportlinkages and social services.linkages and social services. support the government’s anti-corruption advocacysupport the government’s anti-corruption advocacyas projects are implemented under a level playingas projects are implemented under a level playingfield – open, competitive, transparent andfield – open, competitive, transparent andaccountable.accountable.
  7. 7. CHALLENGE : AVOIDING THECHALLENGE : AVOIDING THE“MIDDLE-INCOME TRAP”“MIDDLE-INCOME TRAP”1. Invest in infrastructure.2. Guard against excessive capital inflows3. Boost spending on research and developmentand education.4. Mobilize untapped pools of labor, includingwomen.
  8. 8. Closing RemarksClosing Remarks articulate needs and aspirations of middle income countriesarticulate needs and aspirations of middle income countriesas these are different from those of poorer developingas these are different from those of poorer developingcountriescountries foster international support for middle income countries, asfoster international support for middle income countries, asthey gradually assume higher responsibilities andthey gradually assume higher responsibilities andcooperation tasks, even when they continue to becooperation tasks, even when they continue to berecipients of aid.recipients of aid. Provide an environment conducive to maximizingProvide an environment conducive to maximizingcontribution of middle income countries to global growthcontribution of middle income countries to global growth Present a platform for more effective cooperation: North-Present a platform for more effective cooperation: North-South-South and South-South cooperation.South-South and South-South cooperation.

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