1.4 Million Less Poor Filipinos in 2015

Consistent economic growth coupled with expanded social policies have been able to make a noticeable dent in poverty in the last 3 years, according to the National Economic and Development Authority (NEDA).

    Data from the Philippine Statistics Authority (PSA) released Thursday, October 27, showed that the country's poverty incidence for 2015 declined to 21.6%, from 25.2% in 2012 and 26.3% in 2009.

    That means there were about 1.4 million less poor Filipinos in 2015 than in 2009, according to NEDA. "We are pleased to note that this is within the target set in the current Philippine Development Plan of 20.0% to 23.0% for the year and has resulted from a generally low and stable inflation, improved incomes, and higher employment rates in the period," said NEDA Deputy Director General Rosemarie Edillon in a statement. 

    Edillon noted, however, that the rate of poverty reduction could have been faster between 2012 and 2015 if not for major shocks, especially typhoons and the El Nino phenomenon, which hurt agricultural production, affected rural incomes, and drove up food prices due to shortages.