User:HallansaSewer/sandbox

Poverty Rates

In the beginning of 2019, economic growth slowed due to lack of public spending and an overall weaker economy, caused by the deceleration in investment growth. According to data from the World Bank, the poverty line has decreased from 26% in 2015 to 20.8% in 2019, and is expected to decline further in the following years. This shows that even though the economy has recently slowed, the Philippines is still making progress in poverty reduction.

Causes for Poverty

As of 2015, with one fifth of the population living below the poverty line the desire to reduce poverty is a priority.The poorest populations work in agriculture and live in areas prone to natural disasters compared to the wealthier population. There is an inadequate number of available good jobs, and a lack of investment in education that leads to such a high inequality of income. The nation of the Philippines does not have the infrastructure needed for systems of inclusive economic growth.

Economic Growth

According to data provided by the Asian Development Bank, economic growth in the Philippines competes sufficiently with the GDP per capita percent growth of neighboring countries. The GDP per capita percent growth of the Philippines is 4.8% compared to 5% in Laos People’s Democratic Republic, and 4.4% in Cambodia. In 2020, the GDP per capita growth rate of the Philippines is expected to grow to 6.2%.