The Philippine Institute for Development Studies (PIDS) officially launched the 22nd Development Research Month (DPRM) with a kickoff forum and press conference, held at Novotel Manila Araneta City.
With theme, “Securing a Future for All by Growing a Resilient Middle Class”, or in Filipino, “Pagtiyak ng Kinabukasan sa Lahat sa Pamamagitan ng Pagtatag ng Malakas na Middle Class”, the DPRM revisits AmBisyon Natin 2040, which envisions the Philippines as “a prosperous middle-class society where no one is poor”.
During the forum, PIDS Senior Research Fellow Dr. Jose Ramon Albert provided key insights from their study “Wealth Creation for Expanding the Middle Class in the Philippines”. 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. Albert highlighted 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, there are threats to this growing demographic. “Many middle-class households have experienced job losses, reduced incomes, and increased expenditure on education and health,” explained Albert. He warned that unless action is taken, these setbacks could hinder the middle class from fully contributing to inclusive growth. To address these concerns, Albert emphasized 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.
In their study, 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.
