Poverty in Philippines, High for Asia, Falls as Economy Strengthens

By: Ralph Jennings

https://www.voanews.com/economy-business/poverty-philippines-high-asia-falls-economy-streng
thens

Poverty in the Philippines, a chronic development issue that makes the country an outlier in Asia, is
declining because of economic strength followed by job creation.

The archipelago’s official poverty rate dropped to 21% in the first half of last year from 27.6% in the
first half of 2015, President Rodrigo Duterte said in his July 22 State of the Nation Address.

Economic growth of 6% plus since 2012 has helped to create jobs, especially in Philippine cities such
as the capital Manila, economists who follow the country say. Poverty lingered in the Philippines
largely for lack of rural jobs, economists believe. Rudimentary farming and fishing anchor the way of
life on many of the country’s 7,100 islands. Foreign manufacturers often bypass the Philippines
because of its remote location, compared to continental Asia, and relative lack of infrastructure that
factory operators need to ship goods. But the country hit a fast-growth stride in 2012 with a pickup in
manufacturing and services. After growing just 3.7% in 2011, the GDP that now stands at $331 billion
has expanded at between 6.1% and 7.1% per year.
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