UNITED NATIONS, Dec. 5 (Xinhua) -- UN General Assembly (UNGA) President Maria Fernanda Espinosa Garces on Tuesday called for eliminations of inequality and financing gaps in middle-income countries.

"In the last 50 years, middle-income countries have become a growing economic force substantially contributing to the global gross domestic product (GDP) and boosting their international exports," said Espinosa at a high-level meeting on gaps and impediments faced by middle-income countries in the implementation of the 2030 Agenda for Sustainable Development.

Middle-income countries shelter 70 percent of the world's population, and improving living conditions there is critical, she said.

"Sustainable and predictable growth is essential to develop fiscal policies," said Espinosa, adding that middle-income countries need responsible investments along with social commitments that respect human rights, environmental regulations and fiscal norms.

Middle-income countries have recently suffered a drastic reduction in development flows, she said, emphasizing the need to renew commitment to South-South cooperation.

Espinosa called for innovative ideas to resolve the paradox that middle-income countries face.

The ambition and boldness of the 2030 Agenda must continue to compel the international community to work together to overcome challenges, she said.