Palace sees fewer poor Filipinos this year

MALACAÑANG sees a decline in the number of poor Filipinos as the government continues to address inflation in the country.

“With the President’s tireless efforts in addressing and taming the inflationary effects of the prices of basic goods and commodities, we remain optimistic that many Filipino families would continue to feel more comfort this year,” Palace spokesman Salvador Panelo said on Sunday.

The Social Weather Stations ( SWS) found that in December 2018, only 50 percent of Filipinos considered themselves poor, lower than September’s 52 percent.

Panelo said the survey result could be tied with the recent drop of inflation at 5.1 percent for December, the lowest since June last year.

The Palace spokesman cited the forecast of the Bangko Sentral ng Pilipinas that inflation this year is expected to decelerate below four percent.

“Even as we acknowledge such positive development, we note however that the poverty among Filipinos is still high. In addressing it, we must, as articulated by Secretary [Ernesto] Pernia of NEDA, sustain high economic growth that creates many jobs and reduce prices and inflation,” he said, referring to the National Economic and Development Authority.

Panelo added that the government’s economic managers are pursuing policies and programs, not only to reduce poverty, but to put the country in the same rank as other progressive Asian countries.

“Our economic managers are vigorously pursuing policies and programs geared towards reducing the poverty level and propelling the country’s economic development to a degree satisfactory to the administration’s goal of not only giving our countrymen comfortable lives but putting our country at par with our fast developing industrialized Asian neighbors,” he said.