The opposition or those political personalities in the other fence
will not like to hear this good news.
The World Bank just said that the Philippines is on track in
reducing the poverty as more families benefit from faster economic growth.
"Poverty reduction is likely to continue based on the growth
outlook in the coming years," the World Bank said in its East Asia and Pacific Economic Update this week.
 |
| Photo credit to CNN Phils. |
The World Bank in the first week of this month trimmed its growth
forecast for the country to 6.4 percent because of the delayed
passage of the 2019 national budget and the El Niño episode that could dampen
farm output. The pace is slower than the previous
6.5 percent estimate, but will pick up from the
6.2 percent growth in 2018.
Part of the Duterte administration’s 10 point agenda is to reduce
the number of poor families with government eyeing to trim the poverty rate to
14% by 2022.
According to World Bank estimates, poverty incidence is seen
sliding further to 20.7 percent this year, 19.5 percent by 2020,
and to 18.5 percent come 2021.
"Filipino households are likely to continue reaping the gains
from high economic growth. Non-agriculture wages will continue to spur growth
in household incomes particularly those belonging to the lower income
groups," the report read.
What can you say about this?
Share
us your thoughts by simply leaving on the comment section below. For more news
updates, feel free to visit our site often.
Stay
updated with today's relevant news and trends by hitting the LIKE button.
Thanks
for dropping by and reading this post.
Report from CNN Phils
0 Comments