Arab Today, arab today philippines plans to lift millions out of poverty
Last Updated : GMT 07:27:02
Arab Today, arab today
Arab Today, arab today

Philippines plans to lift millions out of poverty

Arab Today, arab today

Arab Today, arab today Philippines plans to lift millions out of poverty

Manila - AFP

The Philippines said Friday it was aiming to lift more than 10 million people out of poverty in less than two years, and make an enduring impact on lessening one of Asia\'s worst rich-poor divides. The government has set a target of cutting the number of people living in poverty to 16.6 percent by the end of 2015, down from 27.9 percent last year, Socio-Economic Planning Secretary Arsenio Balisacan said. \"It\'s a big challenge. We just don\'t have the luxury of time and the luxury of resources to waste,\" Balisacan told reporters. The ambitious goal is set ahead of when Aquino is required to stand down in in mid-2016 after a six-year term. It comes after stunning economic growth, credit rating upgrades and record stock market highs in the first half of Aquino\'s term failed to make a dent on crushing poverty. Even though the Philippines had the fastest growth rate in Asia of 7.8 percent in the first quarter of this year, the unemployment rate rose to a three-year-high of 7.5 percent in April. The number of people living in poverty -- defined as living on 62 US cents a day or less -- had also largely remained the same. Last year 27.9 percent of the country was classified as living in poverty compared to 28.8 and 28.6 percent in 2006 and 2009 respectively.That means more than 25 million currently live in poverty. The Philippines has long had one of the biggest rich-poor divides in Asia, with a remarkably small number of families dominating politics and business. While the Aquino administration has always aimed to create more inclusive growth, Balisacan said the government was \"recalibrating\" after the recent economic performance failed to make a big impact on poverty. \"We are learning the lesson of the last three years,\" he said. The economy remains largely reliant on services and consumption, fuelled by the huge remittances of almost 10 million Filipinos working overseas. Balisacan said that, as part of the remodelling efforts, the government would sharply increase spending on infrastructure to create immediate jobs and make areas more attractive for investment. The government is specifically targeting ports, airports and roads. Overall spending on infrastructure will rise from the equivalent of 2.5 percent of the Philippines\' economy in 2012 to five percent by 2016, according to Balisacan. He said the government would also continue to ramp up spending on social services. One key focus is a \"conditional cash-transfer\" scheme where the country\'s poorest families are given money if various health and education requirements are met, such as keeping children in school. He said the government was maintaining its forecast of 6.0-7.0 percent economic growth this year, rising to 7.0-8.0 percent in 2015.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today philippines plans to lift millions out of poverty Arab Today, arab today philippines plans to lift millions out of poverty

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today philippines plans to lift millions out of poverty Arab Today, arab today philippines plans to lift millions out of poverty

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today France opens door to post-2025 talks

GMT 05:16 2017 Wednesday ,20 September

France opens door to post-2025 talks
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday