President Marcos vowed to lower the country’s poverty rate to nine percent in 2028 by investing in job-generating infrastructure and social protection programs.
This as the Philippines posted its highest-ever employment and historic low unemployment rates in June.
Mr. Marcos said the goal of reducing the poverty rate is already “within its reach” given that in 2023, the country’s poverty significantly dropped to 15.5 percent from 18.1 percent in 2021, translating to a decrease of 2.45 million Filipinos living in poverty.
“[That] means we have lifted two and a half million Filipinos out of poverty and only 10.9 percent of Filipino families remain poor. Our goal is to further reduce this rate to nine percent by 2028 and improve the lives of eight million Filipinos,” he said.
“More and more of our compatriots have decent and formal jobs and have become part of the middle class. All of this is towards our goal of lifting every Filipino out of poverty and it is within our reach,” the President added.
Mr. Marcos also touted the 6.3-percent economic growth in the second quarter, higher than the 4.3 percent during the same period last year and the 5.8 percent in the first quarter of this year.
He said the government is doing everything to give Filipinos “decent and formal” jobs to elevate them to middle class.
“While these numbers are rosy, these mean nothing if our countrymen will not feel its effects. We will not rest on our laurels but use them to propel us forward into social and economic transformation,” he said.
