The World Bank Bank said Friday the conditional cash transfer (CCT) program, for which the Philippine government spends a huge amount in monthly subsidies to the poor, is so far proving to be a worthy investment.
The Philippines has set an example for countries on how to effectively carry out a conditional cash transfer program that will curb extreme poverty and help out millions of people without spending too much, according to the Asian Development Bank (ADB).
Boosting the labor-intensive manufacturing sector could hasten poverty alleviation and help achieve inclusive growth in the country, the top official of the Philippine Institute for Development Studies (PIDS) said Monday.
The government should review its poverty-reduction target when updating the country’s economic blueprint.
Some 198,000 indigent elderly will each receive a monthly pension of P500 this year after the government earmarked P1.2 billion for this segment of the population.
