Ending poverty: ‘Real test of good governance’

As stated in the law, “it is the declared policy of the State to uplift the standard of living and quality of life of the poor and provide them with sustained opportunities for growth and development.”

According to Santos on Friday , the new IRR will be key in realizing the government’s goal of bringing down poverty incidence to 8.8 percent to 9 percent by 2028.When Marcos delivered his first State of the Nation Address last year, he said he would want to end his six-year presidency with a single-digit poverty rate, which could mean that over 16 million Filipinos will be lifted out of poverty by 2028.Based on data from the Philippine Statistics Authority , the poverty incidence in 2021 was 18.

Based on a World Bank document, the Philippines has made remarkable progress in addressing poverty in the past three decades as poverty rate fell substantially from 49.2 percent in 1985. Based on WB’s report, “Overcoming Poverty and Inequality in the Philippines: Past, Present, and Prospects for the Future,” the Philippines, with an income Gini coefficient of 42.3 percent in 2018, is 15th out of 63 countries when it comes to income inequality.“It is still high,” it said, pointing out that the wealthiest 1 percent of earners capture 17 percent of national income, while all those in the bottom 50 percent collectively receive only 14 percent.

Based on a recent survey by the SWS, 69 percent of Filipinos find it tough to look for a job these days. Only 11 percent find it easy, while 16 percent see it as neither easy nor hard. There was 4 percent who were not certain of their view.WB stressed that “policy can reduce inequality by supporting employment and workers, improving education access and quality, promoting inclusive rural development, strengthening social protection mechanisms, and addressing inequality of opportunity.

Source: Law Daily Report (lawdailyreport.net)

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