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Some researchers claim that the wealthy, who make up about.01 percent of the
population, own 46% of the country's wealth. One cannot be certain because the
elites' assets are undervalued, their wealth is hidden both domestically and
overseas, and their tax obligations are almost nonexistent. Taxes are paid by
working- and middle-class businesspeople.
To aid the underprivileged during the epidemic, the Philippine government was
able to secure a loan from the World Bank in 2020 totaling US$600 million.
Spending money on either the Conditional Cash Transfer, the Pantawid
Pamilyang Pilipino Program, or the Four P's that would reduce hunger were all
recommended. There is very little proof that the impoverished gained much from
inventive accounting, if at all. Additionally, the funds were designated to aid the
DSWD in going digital and better tackling poverty.
Due to this, an estimated 1.83 million Filipinos left their country in 2021 in search
of higher paying jobs, even though doing so meant losing their families, the love
of their children, and their belief that their lovely nation would one day triumph
against injustice, unfairness, and oppression.
There were more foreign employees than there were in 2020 (1.77 million). They
joined the known (more or less)11 million Filipinos that live overseas, serving
other masters. They earn a better income, are well recognized and they realize
their ambitions. Unfortunately, they work hard and use their knowledge and
abilities for other countries' gain rather than their own. But by sending their
hard-earned money home, they support their family and the economy.
A remarkable 151.33 billion pesos in cash was transferred home from April to
September 2021 via transfer agencies, individuals, and in-kind donations,
keeping the Philippine economy viable during the pandemic. But in a country
where a few number of people control more than the majority, it helps their family
barely scrape by, rather than escape poverty.
One of the biggest issues the Philippines and its population are currently dealing
with is poverty. The consequences of poverty in the Philippines are what you're
going to see.
2. Philippines malnutrition
- One of the worst consequences of poverty in the Philippines is hunger. Even
when food supplies are secure, they are more accessible in other places where
people have adequate cash to buy the food since Filipinos have little money to
buy food, forcing them to survive on very little food. Furthermore, because of the
extreme inequality in economic distribution, there is little need for food supply in
less developed regions with high concentrations of low-income people. Food
quality is also declining. Rice, which was formerly the primary food source for
Filipinos, has mostly been replaced by instant noodles, which are less expensive
but less wholesome. Malnutrition has consequently become far more prevalent.
3. Child labor
- Filipinos suffer from extreme poverty, making it common for parents to be
unable to provide for their family. As a result, kids are frequently pulled out of
school to work under difficult circumstances. According to statistics, the
Philippines has 3.6 million child laborers between the ages of 5 and 17. 15.9% of
the total population is represented by this.
The New Year 2023, more poor than ever, government says
Daily Guardian
https://www.dailyguardian.com.ph/the-new-year-2023-more-poor-than-ever-government-says/