WB: 2.5M Filipinos out of poverty

THE Philippines is finally making inroads in its efforts to curb poverty, the World Bank (WB) said in its East Asia and Pacific Economic Update October issue.

“After many years of slow poverty reduction, poverty incidence among the population declined by 3 percentage points between 2012 and 2013 to 24.9 percent, lifting 2.5 million Filipinos out of poverty,” the WB noted.