World Bank report on PH poverty elates Cayetano

THE House of Representatives, led by Speaker Alan Peter Cayetano, vowed to support the anti-poverty program of President Rodrigo Duterte.

In a statement, Cayetano expressed elation over a World Bank report which forecast that poverty in the Philippines will fall below 20 percent starting next year.

The World Bank sees the Philippines’ poverty rate further declining to 19.8 percent next year and 18.7 percent in 2021.

In the recent Macro Poverty Outlook for East Asia and the Pacific report released by World Bank, they cited that fostering high-quality job creation and boosting human capital investment would enhance the impact of economic growth on poverty reduction and shared prosperity.

Cayetano has cited the poverty alleviation efforts of the Duterte administration for an inclusive approach to economic development and said that Congress also shared the President’s vision.

“The positive outlook of World Bank can be attributed to President Duterte’s desire to provide a safe and comfortable life for all Filipinos. This is a goal that we share, and through our active partnership and the combined sustained efforts of the Executive and the Legislative Department we expect a further decline of poverty incidence in the country,” Cayetano said.

“We heed the President’s call to ensure the efficient and effective use of government resources to provide more funds to poverty reduction and sustainable growth,” he added.

In the House of Representatives, Cayetano pointed out, that it prioritized the passage of key economic reform and tax measures to ensure that the pro-poor laws aimed at promoting healthcare and human capital will be fully implemented.