NEDA says effort to cut poverty by mid-term of Marcos admin on track | Inquirer Business

NEDA says effort to cut poverty by mid-term of Marcos admin on track

By: - Reporter / @DYGalvezINQ
/ 12:37 PM August 15, 2022
The NEDA says the government's effort to lessen poverty is on track

FILE PHOTO: Houses in a shantytown in Manila. AFP/Jay Directo

MANILA, Philippines — The National Economic Development Authority (Neda) said Monday that the government is on track to achieve its target of reducing poverty by as much as five percentage points by the mid-term of President Ferdinand Marcos Jr.’s administration.

“Our baseline now is the new number, which is 18.1%,” explained Neda Director General Arsenio Balisacan during a briefing with the Philippine Statistics Authority (PSA). “So anyway, by mid-term of this administration, we aim to reduce, take away for five percentage points out of that 18%.”

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He added that the administration is likewise aiming to reach 9% poverty incidence in the country by the end of Marcos Jr.’s term in 2028.

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Balisacan further said that with the current trend of economic recovery and the restoration of economic activity,  the Philippines will be able to achieve its target for this year, but he did not specify the target for 2022.

He also said the government is ramping up its digitalization to improve initiatives to lessen nationwide poverty incidence.

“With the reorientation of our targeting system, that we are ramping up our digitalization so that we can get our limited resources to the most deserving ones, achieving more with fewer resources, given the fiscal space, I think it will prove we’re on track,” the Socioeconomic Planning Secretary asserted.

The PSA earlier reported that poverty incidence in the Philippines rose to 18.1% in 2021, equivalent to 19.99 million poor Filipinos.

This latest data is up from the 16.7% recorded in 2018.

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