Posts Tagged ‘Vietnam’

Poor Filipinos on the Rise Despite Growth — ADB

CHERYL ARCIBAL, GMANEWS.TV December 10, 2009 7:10pm

The number of poor Filipinos has been increasing despite relatively steady economic growth in recent years, the Asian Development Bank (ADB) said.

In a study titled ‘Poverty in the Philippines: Causes, Constraints, and Opportunities,’ the Manila-based lender said the Philippine yearly poverty reduction rate of 0.47 percent between 1990 and 2005 was slower than in Cambodia, Indonesia, Laos, Thailand, and Vietnam.

Only in the Philippines has the overall number of poor people increased during that period, it added.

The number could further rise as a result of the global economic crisis and recent increases in the poverty incidence, the ADB warned.

“Because of the current global economic crisis and recent increases in the poverty incidence, the goal of reducing the proportion of people living in extreme poverty may not be achieved,” it said.

The poorest provinces in the country are mostly located in Mindanao. These are Tawi-Tawi, Zamboanga del Norte, Maguindanao, Lanao del Sur, Surigao del Norte, and Misamis Occidental. The other poorest provinces are Apayao, Masbate, Northern Samar and Abra.

Poverty trap
“For the Philippines, given the main assumption of gross domestic product growth rate of 1.6 percent and considering three scenarios, the poverty incidence will still be in the range of 21.1 percent to 28.7 percent by 2020. Unless the Philippine economy is able to shift to a higher growth trajectory, it might be stuck in a poverty trap,” the ADB said.
Continue reading

Advertisements