Aquino, the country’s 15th president, former World Bank country director, remembered the main lessons World Bank picked up on during the Aquino administration.“First, unless you improve governance and reduce corruption, you can never eliminate extreme poverty. Second, unless you can tackle climate change and natural disasters, you can never eliminate extreme poverty.
Tax revenues improved from less than 12% of the country’s gross domestic product to over 15%, including the passage of the Sin Tax Law in 2012 “To reduce and mitigate the financial burden caused by natural disasters, DOF instructed the World Bank to create a wholly new Disaster Risk Financing and Insurance Program ,” Konishi said.The conditional cash transfer program that pulled 7.7 million Filipinos out of poverty
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