STA.

ANA,ROSEJOY

BSHM 2-1

A large part of the population in the Philippines lives below the official poverty line, making
poverty a serious problem. According to estimates, the Philippines' poverty rate is currently
21.6%, which equivalent to almost 22 million people living in poverty. This indicates that the
majority of people lack access to necessities including food, shelter, and medical care.
The root cause of poverty in the Philippines can be traced back to the country’s history of
colonialism and exploitation. During the Spanish colonial period, the country was heavily
exploited for its natural resources and the majority of the population was left behind in terms of
development. This legacy of exploitation has had a lasting effect on the country, which can be
seen in the unequal distribution of wealth.
Low income, increasing unemployment rates, and rising prices are the main features of the
Philippines' current economic scenario. The dependence of the nation on agriculture, which is
greatly impacted by weather and climate change, makes this situation worse. The high levels of
poverty in the nation are also a result of corruption and a lack of government assistance.
The Philippines has made some progress in reducing poverty and inequality, but there remain
significant challenges that need to be addressed. The government must continue to invest in
social welfare and economic development programs to ensure that all Filipinos benefit from the
country’s growth and prosperity. The public and private sectors must also work together to
create more job opportunities and improve living conditions in the country. By doing so, the
Philippines can move closer to achieving a more equitable and prosperous society for all.