Can targeted aid keep Pinoys from poverty? | Cai Ordinario

WILL the targeted subsidies to be extended to certain sectors be enough to prevent more Filipinos from falling into poverty? The National Economic and Development Authority hopes so.

“The most important support we can give to the people is a targeted subsidy that will cushion the impact on their family’s needs and [prevent] them [from falling]into poverty. So we will calibrate our subsidies and response to address this temporary concern,” Chua said.only a “slight” uptick. He added poverty data in the second half of the year could see an increase on account of the lockdowns imposed due to Covid-19.

“We are expecting the full-year data to also show a slight increase because of the effect of the Covid-19 and the quarantine. However, we are pleased to see that the emerging data shows that this slight increase is slight,” Chua said.Meanwhile, if the oil price crisis persists, even more Filipinos could join the ranks of the poor as high fuel costs could lead to a spike in food expenses, according to local economists.

“Yes, the situation can get worse. If you ask me what my forecast is, I will say I don’t know but neither does anyone else,” Lanzona told BusinessMirror on Thursday. Consumption in the Philippine context, Oplas said, accounts for 70 percent of GDP. Should this decline, it is possible for the country to see its growth slow even further.

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