Poverty rate at 15.5% shows inclusivity gains

Falling poverty rate in 2023 points to inclusive efforts to reduce poverty across the regions and provinces, Socioeconomic Planning Secretary Arsenio Balisacan said.

Balisacan noted, however, that despite the decline, the government will continue to address the root causes of poverty and make sure that the reduction will be sustained.

“While there is reason for optimism — the report shows an overall decrease in poverty incidence — it is important to remember that poverty is a multifaceted issue requiring sustained and coordinated efforts to address. Its cost to the nation is enormous, and we treat it with utmost seriousness,” the National Economic and Development Authority chief said.

Philippine Statistics Authority data showed that the national poverty rate declined to 15.5 percent in 2023 from 18.1 percent in 2021.

Poverty incidence also significantly decreased in 11 out of the 18 regions of the country last year.

“These figures are encouraging but underscore the complexity of the issue at hand,” Balisacan said.

Resilience, adaptability

Balisacan noted that through the Trabaho Para sa Bayan (TPB) Act, the government aims to enhance the resilience and adaptability of the country’s labor force to cope with the emerging trends in the job market.

“Lastly, the government will continue to strengthen and ensure the provision of social protection programs and services to address the vulnerabilities and risks faced by Filipinos,” he said.

Balisacan said the Department of Social Welfare and Development aims to reduce the incidence of involuntary hunger experienced by low-income households by expanding the implementation of the Food Stamp Program from five pilot areas to 21 priority provinces, with a target of benefiting 300,000 households by 2028.

Cash grants under the Pantawid Pamilyang Pilipino Program (4Ps) will also be adjusted to account for inflation, augmenting households’ ability to purchase nutritious food.