EARLIER this month, the Philippine Statistics Authority (PSA) and the National Economic Development Authority (NEDA) announced the results of the latest assessment of the country’s poverty incidence, which is conducted every three years. As of the end of 2018, the poverty rate had fallen to 16.6 percent from 23.3 percent at the end of 2015, the fastest decline in poverty incidence ever recorded here and perhaps anywhere on the planet.
This is very good news, of course. Although poverty incidence is still high, the reduction to below 17 percent means that the Duterte administration is well on its way to meeting one of its major objectives, that of reducing poverty to 14 percent or less by 2022.
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