Millions to remain in poverty as Philippines re-sets target
Published on Mar 18, 2014 7:26 PM
MANILA (AFP) - The Philippines will have to downgrade its target to reduce poverty, officials warned Tuesday, a move which would leave an additional four million people virtually destitute in 2016.
Socio-economic Planning Secretary Arsenio Balisacan said that although economic growth had remained strong, it had failed to lift as many people out of poverty as expected.
The Philippines had originally projected that 16.6 per cent of its 100 million people would still be living in poverty by 2016.
But Balisacan said the poverty rate was now forecast to be 18-20 per cent by 2016, when President Benigno Aquino's term ends.
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