The Philippine Statistics Authority (PSA) reported that the country’s poverty rate decreased to 15.5% in 2023, down from 18.1% in 2021, as the average income of a Filipino increased.
The government’s statistics agency said that 17.54 million people were living below the poverty line, 2.4 million lower than what was recorded two years prior.
PSA defines “poor” individuals as those whose incomes are “not enough to buy basic food and non-food needs.”
“These encouraging figures underscore our unwavering commitment to implement effective policies and initiatives that uplift the lives of our countrymen. As we welcome news of our progress, we remain steadfast in our efforts to ensure that our economic gains are truly felt by all Filipinos, rich and poor alike,” National Economic and Development Authority Secretary Arsenio Balisacan said in a statement.
President Bongbong Marcos seeks to lower the poverty rate to 9% by the end of his term in 2028.
