PSA reports drop in poverty rate
PSA reports drop in poverty rate
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00:00There has been a significant change in the number of Filipino families living below the poverty line.
00:06This as the Philippine Statistics Authority or PSA releases its 2023 full-year official
00:12poverty statistic showing a drop in the country's poverty rate. Noel Talakay has the details.
00:21Just enough to survive. This is how Jennifer describes the current status of her family.
00:28It's just enough because it's expensive to buy.
00:32It's just like that. We have to pay for electricity, water, and the house that we rent.
00:36A vendor for almost a decade, Jennifer admits she's not earning enough.
00:42It's a bit hard now. Life is hard.
00:47She believes their life will improve if they have savings and are debt-free.
00:54Based on the latest report of the Philippine Statistic Authority or PSA,
00:59the country's poverty rate significantly dropped from 13.2 percent in 2021 to 10.9 percent in 2023.
01:09But there's still no significant change on the number of Filipino families who are claiming
01:16they are poor. In terms of individual level, poverty rate dropped from 20 million in 2021 to
01:2517.54 million last year. The National Economic and Development Authority or NEDA disclosed
01:33the figures emphasized the government's commitment to uplift the lives of Filipinos.
01:39The government continues to do everything to ensure economic gains are being felt by everyone.
01:46Moreover, the latest data showed progress towards the Marquez Jr. administration's goal
01:53of reducing poverty incidence to single-digit level by 2028.
01:58With this, Jennifer is hopeful that in the near future, Filipinos will live a comfortable life.
02:05Nualt Alakay from the National TV Network for New and Better Philippines.