This article's factual accuracy may be compromised due to out-of-date information. Please help update this article to reflect recent events or newly available information.(November 2019)
In 2023, official government statistics reported that the Philippines had a poverty rate of 15.5%,[1][2] (or roughly 17.54 million Filipinos), significantly lower than the 49.2 percent recorded in 1985 through years of government poverty reduction efforts.[3] From 2018 to 2021, an estimated 2.3 million Filipinos fell into poverty amid the economic recession caused by the COVID-19 pandemic.[4][5]
In 2018, the rate of decline of poverty has been slower compared with other East Asian Countries,[6] such as People's Republic of China (PRC), Thailand, Indonesia, or Vietnam. National Economic and Development Authority (NEDA) deputy director general Rosemarie Edillon attributed this to a generally low and stable inflation, improved incomes and higher employment rates during the period.[7] In 2022, the poverty situation in the Philippines has seen a steady ease.[8]
Some of the many causes of poverty are bad governance, corruption, a political system dominated by political dynasties, vulnerability to environmental disasters, and the lack of available jobs.