Monday, June 6, 2011

The paradox of growth and persistent poverty

"The Arroyo administration had been inordinately fond of citing the 10 years of economic growth during its tenure, peaking at a high 7.1 percent in 2007. And yet, in that decade of impressive growth, more Filipinos actually became poor."

"In 2003, for instance, the official poverty incidence rate for all individual Filipinos was only 24.9 percent. By 2009, this had worsened to as much as 26 percent. Put another way, the number of poor Filipinos in 2003 was a mere 19.8 million. By 2009, this number had swelled to as much as 23.1 million. In reality, many of these additional 3.3 million Filipinos were in fact children who had been born into poverty."

Read the rest here.

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