By Roderick T. dela Cruz
Economic growth has resulted in reduced poverty incidence in the Philippines in 2005, according to data from the World Bank.
In its latest estimate, the multilateral lender said poverty at the $1-a-day level fell to 10.8 percent of the Philippine population in 2005 from 11.7 percent in 2004. At $2-a-day level, poverty incidence is estimated to have eased to 41.9 percent last year from 43.5 percent in 2004.
The gross domestic product of the Philippines grew by 5.1 percent year-on-year in 2005, the second consecutive time it grew above 5 percent, after posting a 6.0 percent expansion in 2004.
Because of higher growth, the World Bank estimated that the number of poor Filipinos at $1-a-day level went down by 600,000 to 9 million in 2005 from 9.6 million in 2004. The number of poor Filipinos at $2-a-day level also shrank by 700,000 to 35.1 million from 35.8 million.
The WB said it expects poverty reduction in the Philippines to continue over the next two years. However, it expressed concern over the results of local polls showing that more Filipinos were considering themselves as poor and hungry.
Data also showed that poverty reduction in the Philippines was not as rapid as in other countries. The WB said poverty at the $1-a-day level fell to 8 percent of the population in East Asia in 2005 from 9.1 percent in the previous year. At $2-a-day level, poverty is estimated to have fallen to a little over 31 percent in 2005, down from just over 34 percent in 2004.
This means that the number of poor East Asians at the $2 level is estimated at some 585 million in 2005, down by 51 million from the previous year.
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