Zubiri to Asia-Pacific parliamentarians: Address poverty worsened by Covid-19

Senate President Juan Miguel "Migz" Zubiri called on the participants of the 31st Asia-Pacific Parliamentary Forum to address the poverty incidence in region that has increased due to the Covid-19 health crisis.

Zubiri said parliamentarians should provide additional safety nets to poor and middle-class individuals "to enable them to escape the clutches of poverty."

The APPF31, he added, is targeting to "usher in genuine economic progress by eradicating endemic poverty."

About 155 million people from the Asia-Pacific region are currently living in extreme poverty — 80 million higher compared to pre-pandemic data.

Inflation and the rising cost of living are also hurting the Asia Pacific region's middle and working classes Zubiri noted.

"Parliaments must take action now to provide additional safety nets for the poor and our middle class as well as create opportunities for growth to reverse this trend, in order to achieve true inclusive growth," he said.

The Marcos administration, meanwhile, "is taking a whole-of-government approach to address poverty by creatively and strategically pursuing new ways of maximizing government funds."

According to Zubiri, his is where the Maharlika Investment Fund, an initiative that involves consolidating underutilized government resources into a sovereign wealth fund, comes in.

The fund is designed to provide financial support for the Philippine government's priority programs aimed at bolstering the national economy and generating employment opportunities for Filipinos.

"This multifaceted approach underscores the government's commitment to addressing poverty through resourceful and targeted measures," Zubiri said.

He added that in the steadily recovering world economy, the Asia-Pacific region, which is expected to grow 4.6 percent, remains the key driver of global growth.

In the third quarter, the Philippines' gross domestic product expanded to 5.9 percent, making the Philippines one of the fastest-growing economies in Asia.

Zubiri also emphasized the urgent need for concerted climate action, given the increasing occurrences of extreme storms and prolonged droughts, faster sea-level rise, freshwater scarcity, ocean acidification and the desertification of arable land.

"Take sea-level rise as an example. According to a recent study conducted by the Intergovernmental Panel on Climate Change, or the IPCC, sea-level rise presents a substantial risk for Asia-Pacific countries particularly those with urban areas along coastlines," he told the other parliamentarians.

"As such, governments in the Asia-Pacific region must confront issues such as ocean pollution, illegal, underreported and unregulated fishing, and other human-induced crises in its waters," he added.

Zubiri said it requires a commitment to adhering to the rule of law and the recognized principles of friendly cooperation. "Given our geographical interconnectedness as neighbors, fostering goodwill becomes imperative," he stressed.

The APPF31, which was hosted by the Philippines for the second time since 1994, ran from 23 to 25 November. It was attended by the 275 parliamentarians from member-states such as Australia, Brunei, Cambodia, Canada, Chile, China, Indonesia, Japan, the Republic of Korea (South Korea), Lao PDR, Malaysia, Mexico, Papa New Guinea, Micronesia Peru, Russian Federation, Thailand, Vietnam and the Philippines.