📉 Poverty in the Philippines decreases faster than expected

📉 Poverty in the Philippines decreases faster than expected

The poverty rate in the Philippines dropped to 15.5 percent in 2023, from 18.1 percent in 2021. The number of poor Filipinos decreased by 2.45 million between 2021 and 2023. The result surpasses the government's development goal for 2023, which was set at about 16.0 percent.

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  • The poverty rate in the Philippines dropped to 15.5 percent in 2023, from 18.1 percent in 2021.
  • The number of poor Filipinos decreased by 2.45 million between 2021 and 2023.
  • The result surpasses the government's development goal for 2023, which was set at about 16.0 percent.

Significant reduction in poverty

The Philippines has made great progress in reducing poverty between 2021 and 2023. According to new figures from the Philippine Statistics Authority, the poverty rate among the population fell to 15.5 percent in 2023, from 18.1 percent in 2021. This means that 2.45 million fewer Filipinos are living in poverty.

The result surpasses the government's development goal for 2023, which was set at 16.0-16.4 percent in the country's development plan for 2023-2028.

The poverty rate among families also decreased significantly, from 13.2 percent in 2021 to 10.9 percent in 2023. The number of poor families fell from 3.5 million to 3.0 million during this period.

The number of families living in extreme poverty with food insecurity also decreased, from 1.04 million in 2021 to 740,000 in 2023. In terms of individuals, this means a reduction from 6.55 million to 4.84 million people.

The government aims to reduce the poverty rate to below 10 percent by 2028.

Increased incomes

The average per capita income in the Philippines increased by 17.9 percent between 2021 and 2023. This exceeded the increase in the poverty threshold, which rose by 15.3 percent during the same period.

Particularly positive is that incomes for the poorest groups in society increased faster than average. The three lowest income groups saw income increases of 25.3 percent, 22.9 percent, and 22.2 percent respectively.

Ongoing challenges

Despite the positive results, Arsenio M. Balisacan, head of the National Economic and Development Authority, points out that high inflation during the first half of 2023 partially offset the effects of income increases. He emphasizes that food security remains a top priority for the government.

Balisacan underlines the importance of increasing agricultural productivity, improving infrastructure and markets, managing food prices effectively, and strengthening targeted efforts to improve health outcomes.

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