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Nov 24, 2022 · With an income Gini coefficient of 42.3 percent in 2018, the Philippines had one of the highest rates of income inequality in East Asia. “The Philippines aims to become a middle-class society free of poverty by 2040, but we know from global experience that no country has managed to make this transition while maintaining high levels of ...
Sep 20, 2023 · In a 2022 report by the World Bank, the Philippines ranked 15th out of 63 countries in income inequality. The top 1% of income earners contributed 17% of the national income, while the bottom 50% only captured 14%. Additionally, the nation has one of the highest income inequality rates in East Asia. The 2022 World Bank report also highlighted ...
Nov 24, 2022 · Sources of Poverty and Inequality Reduction in 1985-2018. The gradual shift of workers to more productive sectors, with higher reliance on wage income, drove most of the reduction in poverty. Increased access to services and assets contributed 80% to the reduction of inequality. 17.4. -3.2 Farm enterprise Pension. Agriculture wage. Remittances.
Dec 2, 2022 · GNI per capita was $3,430 in 2020 ($3,850 in 2019) for the Philippines, and $7,050 ($7,407 in 2019) for Thailand. On the other hand, poverty rate was estimated at 18.1 percent in 2021 (16.7 percent in 2018) for the former, and 8.8 percent in 2020 (6.2 percent in 2019) for the latter. Indonesia’s population increased to 274 million in 2020.
- Ernesto M. Pernia
Nov 24, 2022 · In the past three decades, the Philippines has made remarkable progress in reducing poverty. Driven by high growth rates and structural transformation, the poverty rate fell by two-thirds, from 49.2 percent in 1985 to 16.7 percent in 2018. By 2018, the middle class had expanded to nearly 12 million people and the economically secure population had risen to 44 million. This report is intended ...
Apr 26, 2022 · In fact, the Philippine Statistics Authority (PSA) reported in December 2021 that the poverty incidence in the country in the fi rst half of 2021 jumped to 23.7% — translating to 26.14 million Filipinos — from 21.1%, or 22.26 million Filipinos in the same period in 2018. This indicates that 3.88 million more Filipinos became poor, therefore reversing the downward trend in poverty incidence ...
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It’s a real pleasure to welcome you all to this event today, to share and discuss the findings of a new report on inequality “Overcoming Poverty and Inequality in the Philippines: Past, present and prospects for the future.”. It is not news to any of you that inequality is a problem for both developing and developed nations across the world.
