The Proportion Of Financially Incapable Filipinos Shows Decrease
PSA CONFIRMS – Philippine Statistics Authority confirmed the decline of the proportion of the country’s population living below the poverty line.
The undeniable increase in commodity prices have affected Filipino families in the past few months. However, reports show that there is a noticeable decrease in the proportion of poor Filipinos.
It was also reported back in 2016 that a family of five requires at least P417.23 a day or P12, 517 per month in order to provide for their daily basic needs.
Last year, it was reported that a family of five needed to make at least P10,481 every month to survive and provide for their daily basic needs. Including food and non-edibles.
Recently, the proportion of Filipino individuals living below the poverty line as compared to the total population was estimated at about 21%. This record is only of the first few months of 2018.
This is based on the report from Philstar.
According to the article, the rate of the current proportion is lower by 6.6% compared to the record from 2015 which is 27.6%.
And the rate of proportion of poor Filipino families was at 16.1%. Lower by 6.1% as compared to the record from 2015.
The current government administration lead by President Rodrigo Roa Duterte is aiming to bring the individual poverty rate to 14% by 2022.
That is all there is to it, at least for now. We’ll post updates as soon as we get them.