Aquino-Poverty in The Philippines (Documented Essay)
Natural disasters such as typhoons, earthquakes and tsunamis and many more tend to destroy the houses and properties that serve as a source of income to the families of the Philippines, because of this Filipino families struggle to make a living and provide for their families.
When people take action and make a change and stop poverty once and for all only then can we stay true to the country’s tagline, ‘It’s more fun in the Philippines’.
In a titled released today, the World Bank said that the Philippines has made important gains in poverty reduction. Driven by high growth rates and the expansion of jobs outside agriculture, poverty fell by two-thirds—from 49.2 percent in 1985 to 16.7 percent in 2018. By 2018, the middle class had expanded to nearly 12 million people and the economically secure population had risen to 44 million.
Over 10 million women live in poverty in the Philippines.
Because of this, the Philippines had always struggled to keep its nation to prosper because of a great number of families experiencing extreme poverty.
Despite the strong recovery of growth and the labor market, COVID-19 pandemic has partly reversed decades-long gains in reducing poverty and inequality in the Philippines. It halted economic growth momentum in 2020, and unemployment shot up in industries that require in-person work. In 2021, the national poverty rate rose to 18.1 percent despite government assistance.
said Nadia Belhaj Hassine Belghith, Senior Economist with the East Asia Poverty Global Practice covering Thailand and the Philippines who led the study.
Probably because of the following reasons: Because of early marriage and rapid increase of population , many people will experience shortage in terms on their basic needs, other tend to do illegal things to survive like committing crimes; people became wise in holding the funds of government and corruption is very rampant nowadays; the drug abuse done by human specially youth; the poverty suffered by many because of lack of support from government and underemployment; also the improper waste disposal method adapted by most businesses especially manufacturing type of organization and unconcern citizen that would cause pollution to air and water, which in turn causing the extinction of our marine resources and destroy the ozone layer; and the politics problem.
This is one of the main problems of the Philippines’ Fiscal Policy.
The World Bank’s partnership with the Philippines spans 79 years. Since 1945, the World Bank has mobilized funding, global knowledge, and partnerships to support the Philippines’ efforts to reduce poverty; promote agricultural development; upgrade infrastructure; improve health, nutrition, and education; strengthen resilience against climate change and natural disasters; enhance global competitiveness; and promote peace. In recent decades, the Bank has also helped spur private sector growth, including in agriculture; expandengagement with civil society; and promote peace and development in Mindanao.
Poverty In The Philippines Economics Essay.
The Bank has supported one of the Philippine government's primary community empowerment and poverty alleviation programs, Kalahi-CIDSS. Since February 2014, Kalahi CIDSS received US$779 million in funding under the (KC-NCDDP). KC-NCDDP aims to empower poor communities and has delivered impressive results in remote and poor areas, including Indigenous communities. It has financed 54,578 subprojects, benefiting 17.5 million households. These subprojects, which include basic access facilities, (e.g., village roads), social services, environmental protection, and community utilities, have improved the lives of about 1.5 million Indigenous households. Since 2014, the project has mobilized over 2.1 million community volunteers, 35% of whom are women.
Poverty In The Philippines Economics Essay [Internet].
The World Bank is proud to have been a partner of the Philippines for over 7 decades, mobilizing funding and global knowledge to support poverty reduction and shared prosperity.
Poverty in the Philippines Essay - Cram
The Philippines provides a concrete example of GDP growth that did not reduce poverty, although the economy recorded growth of more than 4% in 3 of the past 4 years. The 2003 FIES illustrates average family incomes to have increased by only 2.5% over the 2000 level, while the CPI shows an inflation rate of 13.9%. Judging all these data obtained, it is therefore almost certain that the poverty level has increased during this period. It most likely has increased by a greater level than from 1997–2000, when average family incomes has grown by 18%, inflation has been 22%, and the poverty incidence of the population has increased by 1% (Poverty in the Philippines 2). The author of the book Poverty And The Critical Security Agenda, Eadie (33), added: