PH poverty rate down to 22.4% — PSA

THE Philippine Statistics Authority on Friday announced the poverty rate drop to 22.4% in the first half of 2023.

The number is a decrease from the 23.7% recorded in the same period in 2021, according to PSA chief and National Statistician Claire Dennis Mapa in a press conference.

“Ibig sabihin 224 sa bawat isang libong Pilipino ay nasa may pamilyang hindi sapat ang kinikita upang matugunan ang kanilang basic food and non-food needs sa unang anim na buwan ng 2023,” Mapa said.

Poverty incidence among families, meanwhile, declined to 16.4% in the first semester of 2023 from 18.0% in the same period of 2021, equivalent to 230,000 households escaping poverty, the PSA said.

Across the country, poverty incidence decreased in 15 out of the 17 regions from 2021 to 2023, with significant decline recorded in the National Capital Region (NCR), Cordillera Administrative Region (CAR), Cagayan Valley, Central Luzon, SOCCSKSARGEN, and Caraga. 

The highest poverty incidence, on the other hand, is still reported in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), while the Davao Region experienced a significant increase in poverty incidence due to its vulnerability to natural hazards, such as flooding and earthquakes.

President Ferdinand “Bongbong” Marcos Jr aims to bring down the poverty rate to 9% before his six-year term ends in 2028, by investing in infrastructure and courting foreign direct investment to create jobs and boost economic growth.