The ranks of the poor in Philippines are moderating as the nation sustains among the fastest economic growth in the region.
Filipinos living below the poverty line were estimated at 21 percent of the population in the first half of 2018 compared with 27.6 percent in the same period in 2015, the Philippines Statistics Authority said in a report on Wednesday. The poverty incidence, based on a survey conducted every three years, eased even as inflation accelerated last year.
Poverty declined as infrastructure projects created new jobs and the state expanded its cash handouts. “Thanks to sustained economic growth and critical and broad-based reforms and investments that have translated to employment-generation and social protection,” according to Economic Planning Secretary Ernesto Pernia.
Read more: Bloomberg
ABOUT PTIC TAIPEI
The Philippine Trade & Investment Center in Taipei is the Commercial Affairs Section of the Manila Economic and Cultural Office and the representative office of the Philippine Department of Trade & Industry in Taiwan