The Philippines’ poverty rate rose to 18.1 percent of the population by 2021, equivalent to nearly 20 million Filipinos living in poverty, compared with 16.7 percent in 2018, the Philippine Statistics Authority said in a statement released on Aug. 15. Some 2.3 million people in the country were pushed into poverty between 2018 and 2021, largely due to the economic downturn caused by the Covid-19 pandemic, authorities said. The incidence of poverty in the population is defined as the proportion of Filipinos whose per capita income does not adequately meet their individual basic food and non-food needs, and…
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The Philippines’ overconsumption rate rose to 18.1 percent of the population by 2021, equivalent to nearly 20 million Filipinos living in poverty, compared with 16.7 percent in 2018, the Philippine Statistics Authority said in a statement on Aug. 15. .
Authorities said around 2.3 million people in the country were pushed into poverty between 2018 and 2021, largely due to the economic downturn caused by the Covid-19 pandemic.
The incidence of poverty among the population is defined as the proportion of Filipinos whose per capita income does not adequately meet their personal basic food and non-food needs and is below the current poverty line of 12,030 pesos ($215) per month for a household. 5. According to the statement.
The poorest area in Mindanao
Regionally, the Muslim Bangsamoro Autonomous Region in Mindanao had the highest poverty rate at 37.2 percent, while the Capital Region or Metro Manila had the lowest poverty rate at 3.5 percent.
The increase in poverty is a severe blow to the government and its efforts to reduce overall poverty in the Philippines.
While the poverty rate was as high as 28 percent in 2013, the government has continued to reduce hardship for Filipinos over the past decade through job creation, infrastructure spending, and housing and education programs.
However, the number of people living below the poverty line still exceeds the government’s target of 15.5% to 17.5%.
Marcos sets 9% target by 2028
Recently inaugurated President Ferdinand Marcos Jr even announced an ambitious goal of delivering his single by 2028 through “full reopening of the economy, investment in human capital and social protection, and transformation of the productive sector. Reduce the poverty rate to 9 percent by the end of the 16-year term.” Create more high-quality employment opportunities and competitive products. “
While observers doubt whether the target can be achieved in such a short period of time based on historical experience and the current global economic turmoil and soaring inflation, Philippine Economic Planning Secretary Arsenio Balisacan insists it is “still achievable.”
