• Growth alone not enough to solve poverty

    1

    Economic growth alone is not enough to lift 25 percent of Philippine population out of poverty, the World Bank’s lead economist for the Philippines said, noting that there are still areas that should be strengthened to eradicate the country’s main problem.

    Advertisements

    In a presentation at The Manila Times 3rd Business Forum, World Bank lead economist Rogier van der Brink said Philippine economic growth now seems to be more inclusive, with government data showing that from 27.9 percent in 2012, poverty incidence had dropped to 25.8 percent in 2014.

    “It used to be the case that poverty is quite sticky … Now, we see this first sign of spring…,” he said, adding that current initiatives put poverty reduction targets within reach.

    Still, van der Brink said vulnerabilities in the certain areas of the economy were continuing to hinder poverty reduction. These include rural regions where most of the poor population are concentrated; conflict-stricken and geographically isolated areas where poverty is chronic; and low education and agriculture productivity.

    The World Bank economist said the government’s inclusive growth agenda should focus more on structural transformation in agriculture; the role of small and medium enterprises in the economy; the potential of shipping industry; and reforms in rice policy. Mayvelin U. Caraballo

     

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    1 Comment

    1. I do not think nobody can solve poverty. One can diminish poverty but nobody can solve this problem. There are large segments of our population that is so use to poverty that they surrender and not to exert any effort to get out of poverty. I still remember the blacks
      in America is so use to receive welfare checks that they do not exert any effort to get out of poverty. The actions were also transffered to their children. Their children became slaves too. They are called welfare slavery.