diff --git a/src/Makefile.m32 b/src/Makefile.m32
index 43b1839f41..33e219f920 100644
--- a/src/Makefile.m32
+++ b/src/Makefile.m32
@@ -46,7 +46,7 @@ ifdef DYN
 else
   curl_DEPENDENCIES = ../lib/libcurl.a
   curl_LDADD = -L../lib -lcurl
-  COMPILE += -DCURL_STATICLIB
+  CFLAGS += -DCURL_STATICLIB
 endif
 ifdef ARES
   CFLAGS += -DUSE_ARES