14% poverty rate no sweat
Considering the recent positive development on the poverty incidence, reducing the 2022 target might be considered and discussed in the next Economic Development Cluster meeting
The goal of a 14 percent poverty rate will likely be achieved even before the end of the term of President Rodrigo Duterte after the government disclosed yesterday a 16.6 percent poverty incidence for 2018.
A much lower number is possible than the target, top Department of Finance (DoF) officials said.
The drop was notable coming from an almost stationary 23 percent to 24 percent during the six-year term of former President Benigno Aquino III.
Finance Secretary Carlos Dominguez III said, considering the recent positive development on the poverty incidence, reducing the 2022 target might be considered and discussed in the next Economic Development Cluster (EDC) meeting.
The government will hit its target of pulling down the poverty incidence to 14 percent with further reforms such as the full implementation of Universal Health Care and higher sin taxes to ensure sufficient funding for this health care program for all Filipinos.
“That’s certainly possible. We will take it up in the next EDC meeting,” Dominguez said.
Hitting the 14 percent poverty incidence target by 2022 will easily be achieved given the pace of improvement in the poverty level brought by the reforms implemented to lower inflation and generate more jobs.
“The government will hit its target of pulling down the poverty incidence to 14 percent with further reforms such as the full implementation of Universal Health Care and higher sin taxes to ensure sufficient funding for this health care program for all Filipinos,” the DoF chief said.
“We have advanced a number of game-changing reforms we set out to accomplish at the start of the Duterte administration. If we pass the rest of the reforms in the zero-to-10 Point Socioeconomic Agenda, we will move even closer to the President’s ultimate goal of a comfortable life for our people,” he added.
Too easy
Finance Undersecretary Gil Beltran likewise shared the same sentiment, noting how easy the government can achieve its 14 percent target.
“We are cutting down the poverty rate by 2.2 percentage points a year, which means that we have enough ammunition to get that poverty rate down further in the future...14 (percent) from 16 (percent), it’s so easy,” Beltran said.
“The actual will be much lower than the target (by 2022) because there are so many laws that were passed that will bring that down,” he added.
According to Beltran, among the significant measures implemented is the Rice Tariffication Law (RTL) that has contributed significantly in bringing down the poverty rate.
Poor income households allocate about 60 percent of their budget for rice.
In terms of farmers who were affected by the RTL, the DoF executive said the government has already extended help via unconditional cash transfers, providing fertilizers and new technology.
“(Also), we are developing insurance products for the poor, for the farmers and also guarantee systems,” he said.
To recall, the Philippine Statistics Authority announced the poverty incidence in the Philippines at just 16.6 percent for 2018,
Emulate Mother Mary
The Chief Executive also encouraged Filipinos to channel the Virgin Mary in working for a more progressive nation during yesterday’s Feast of the Immaculate Conception of Mary.
“May you be inspired by the Immaculate Conception to continue fostering peace and understanding among every citizen regardless of their faith or creed. It is my hope that you will remain committed in realizing genuine and lasting change so that everyone may attain their hopes and dreams,” the President noted.
“As you embody her holy example in your daily lives, I encourage you to work in solidarity to build a progressive, prosperous and inclusive nation,” he added.
Presidential Communications Operations Office Secretary Martin Andanar, for his part, asked the faithful to embody Mary’s “faithfulness, humility, simplicity and thoughtfulness” in the modern world.
“May we remember Mary’s selfless acceptance of her sinless conception of our Lord Jesus Christ which led to the realization of God’s planned and promised salvation,” Andanar explained.
“Let this realization serve as a reminder for everyone to be kind-hearted, humble, and kind to each other as we continue to live by God’s teachings and to fulfill His commandments,” he added.