5.9 million Filipinos moved out of poverty in 2018 — PSA

MANILA, Philippines — More Filipinos transitioned out of poverty last year, which the government largely attributed to improved labor market conditions and higher salaries.

According to a report released Friday by the Philippine Statistics Authority, 5.9 million Filipinos were lifted out of poverty in 2018.

However, 17.6 million Filipinos, or around 3 million households, struggled to afford basic needs and still lived below the poverty threshold as of last year. The country’s statistics agency estimates that a family of five needed an average of P10,727 per month to make ends meet in 2018.

In a statement, the National Economic and Development Authority, the country’s socioeconomic planning agency, said the government is now “on track” to achieve its goal of slashing poverty incidence to 14% by 2022.

“This significant reduction in poverty is largely attributed to the improved labor market conditions that increased the salaries and wages of the poor,” NEDA said.

“With a vibrant economy that continues to generate good jobs, the mean salaries and wages for the population went up by 22.8% to P156,114 in 2018 from P127,122 in 2015,” it added.

According to the PSA, the proportion of Filipinos whose income is not enough to meet even the basic food needs stood at 5.2% in 2018. The PSA said a family of five needed a monthly budget of P7,528 on average last year to pay for their food.

Meanwhile, around 800,000 families remained “food poor” in 2018.