Philippines aims to cut poverty by half

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Ph poorThe Philippines hopes to lift millions out of poverty and cut the rate of people living below the poverty threshold by half by 2016, the country’s Socioeconomic Planning Secretary Arsenio Balisacan said on July 5.

Currently, nearly 28 per cent of the country’s 97 million people live below the poverty line and the government’s aim is to reduce that to 16.6 per cent within the next three years, he said. The Philippines also has one of the highest rate of its urban population living in slums.

The government said it is sticking to its forecast for economic growth of 6 to 7 per cent this year which would enable it to focus on creating “quality jobs” and addressing the backlog in housing. The government  will also continue to run a programme that gives cash directly to poor families as long as children stay in school and see a doctor. Infrastructure spending will be increased  to 5 per cent of GDP by 2016 from 2.5 per cent in 2012.

He also said the economy is being diversified from high dependence on consumption and services to one with stronger manufacturing, exports, investments, tourism and more jobs.

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Reading Time: 1 minute

The Philippines hopes to lift millions out of poverty and cut the rate of people living below the poverty threshold by half by 2016, the country’s Socioeconomic Planning Secretary Arsenio Balisacan said on July 5.

Reading Time: 1 minute

Ph poorThe Philippines hopes to lift millions out of poverty and cut the rate of people living below the poverty threshold by half by 2016, the country’s Socioeconomic Planning Secretary Arsenio Balisacan said on July 5.

Currently, nearly 28 per cent of the country’s 97 million people live below the poverty line and the government’s aim is to reduce that to 16.6 per cent within the next three years, he said. The Philippines also has one of the highest rate of its urban population living in slums.

The government said it is sticking to its forecast for economic growth of 6 to 7 per cent this year which would enable it to focus on creating “quality jobs” and addressing the backlog in housing. The government  will also continue to run a programme that gives cash directly to poor families as long as children stay in school and see a doctor. Infrastructure spending will be increased  to 5 per cent of GDP by 2016 from 2.5 per cent in 2012.

He also said the economy is being diversified from high dependence on consumption and services to one with stronger manufacturing, exports, investments, tourism and more jobs.

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