The Philippine Statistics Authority (PSA) said around 2.3 million Filipinos were forced into poverty in 2021 as compared to 2018.
Based on the latest PSA report, the poverty incidence in 2021 was at 18.1%, translating to 19.99 million Filipinos living below the poverty threshold “of about P12,030 per month for a family of five” or those who have insufficient incomes to meet their basic food and non-food needs.
The latest figures from the preliminary results of the Family Income and Expenditure Survey is higher than the 16.7% in 2018 or around 17.67 million Filipinos.
Subsistence incidence, or the number of Filipinos whose incomes do not meet their basic food needs, also rose to 5.9% in 2021 from the 3.4% in 2018. They are typically families of five who survive under P8,379 a month.
The National Economic and Development Authority (NEDA) said the country is ready to reduce the number of Filipinos below the poverty line through the further reopening of the economy to open up more jobs.
It also considered increasing investment in human capital, social development and social protection, and the transformation of production sectors to create more quality and competent products.
“Given these strategies and our whole-of-society approach, we can reduce poverty incidence by 5 percentage points at midterm, and another 4 percentage points by 2028. We aim to reduce poverty incidence among Filipinos to 9 percent by 2028,” NEDA Sec. Arsenio Balisacan said. – Report from Naomi Tiburcio-ag
