The National Economic and Development Authority (NEDA) is optimistic that the Philippines will reach the 14% poverty rate target before the end of President Rodrigo R. Duterte’s term.
Acting NEDA Secretary Karl Kendrick Chua confirmed this amidst the effect of the Corona Virus Disease 2019 (COVID-19) pandemic on the Philippine economy.
Chua stated that the key to reaching the target is the gradual opening of the economy and effective implementation of recovery programs under the 2020 and 2021 national budget as well as the extended Bayanihan 2 Law.
In relation to this, the World Bank has estimated an additional 2.7 million marginalized individuals in 2020 as a possible result of the pandemic.
-PTV News
