NEW YORK, USA — Despite the challenges of the times, President Ferdinand "Bongbong" Marcos Jr. said that with steady investment, the Philippines will be a "moderately prosperous" country by 2040.

Marcos said this as he made his world debut at the 77th Session of the United Nations General Assembly (UNGA) on Tuesday afternoon, September 20 (New York time).

In his speech, the President said he was confident that the Philippines will achieve such a status, noting that Filipinos have been making significant strides in its three-decade journey to sustainable development.

"Despite the challenges of the pandemic and the global economic upheavals, we remain on track to reach upper middle-income status by next year," he said.

"With steady investment in food , public health, education, and other social services, we expect to become a moderately prosperous country by 2040. I am confident that we will achieve this vision," he added.

Data from the World Bank showed that the Philippines remained a lower middle-income economy despite a 6.12-percent increase in its gross national income (GNI) per capita to $3,640 last year.

However, President Marcos said it would be difficult for the Philippines to achieve this goal if the United Nations (UN) would not function well.

"The achievement of our national ambition requires a global environment that creates conditions that allow all nations, including ours, to thrive in peace," he said.

"We need the United Nations to continue to work. And we, the Philippines, are determined to be part of that solution," he added.

Marcos cited what the Philippines has done to build better ties with other countries.

"The Philippines did not hesitate to donate to the COVAX facility that helped provide vaccines in many parts of the developing world. Multilateralism and international cooperation do make a difference," he said.

"Filipino health workers were at the frontlines in many countries to curb the spread of the virus, risking and oftentimes sacrificing their own lives to save those of others," he added.

The President likewise believed that solutions to the different challenges were just around the corner.

"We have always been an optimistic and courageous nation. Despite the enormity of these challenges, we believe that solutions are within our collective grasp," he added.