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World Bank predicts further drop of Philippine poverty rate

A new World Bank report released this week said that the Philippines’ progress in reducing poverty will continue, leading to a drop in poverty incidence this year until 2026. Due to robust economic growth and rising real household incomes, poverty incidence (based on the lower-middle-income country poverty line of 3.65 US dollars per day) is projected to decrease from 15.5% in 2023 to 13.6% in 2024 before falling further to 11.3% by 2026, said the report. However, the latest Philippines Economic Update warned that the recurrence of climate events such as tropical cyclones and vulnerability to food price shocks pose risks. The report said that these weather-related shocks have damaged homes and infrastructure and disrupted businesses and livelihoods in the past. Meanwhile, the report added that household income vulnerability and vulnerability to climate disasters may undermine the potential for continued poverty reduction. Proactive government measures are crucial to protect poor…...

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12 Dec 2024

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Concord Review is owned and operated by PT Concord Consulting Indonesia (“Provider”). Please read these Terms of Use (the “Terms”) carefully before using Concord Review. By accessing or using Concord Review in any way, including without limitation, browsing the website using any information emailed, text-messaged or on the website, and/or subscribing to the online service; you agree to and are bound by the terms, conditions, policies and notices contained in these “Terms.”

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In no event shall Provider be liable for any indirect, incidental, special, punitive, increased or consequential damages, loss of profits, revenue, data, goodwill or use, incurred by you or any third party, whether in an action in contract or tort (including negligence and strict liability), arising from your access to or inability to access, or use of, this site or any services provided in connection with this site, even if Concord Review has been advised of the possibility of such damages.

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If any provision in these Terms is found by a court or arbitrator to be invalid, the parties agree that the court or arbitrator should give effect to the parties’ intentions as reflected in the provision, and the other provisions of these Terms will remain in full force and effect. Provider’s failure to act with respect to a breach by any visitor using Concord Review does not constitute a waiver of its right to act with respect to subsequent or similar breaches.

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