Poverty rate eases to 24.9 pct in 1st half of 2013

MANILA, Philippines (Xinhua) - Poverty incidence among Filipinos eased to 24.9 percent in the first semester of 2013, from 27.9 percent posted in the same period in 2012, the local statistics agency said today.

The Philippine Statistics Authority (PSA) said in a report that poverty incidence among Filipino families also slowed to 19.1 percent in January to June 2013, from 22.3 percent recorded in the same period in 2012.

The National Economic and Development Authority attributed the decline in poverty rate to the 7.7-percent economic growth posted by the Philippines in the first half of 2013 as well as the government's investments in social development programs.

"The remarkable improvement in the poverty incidence in the first half of 2013 is evidence that the Philippines' development strategies are heading in the direction of inclusive growth," Socioeconomic Planning Secretary Arsenio Balisacan said in a statement.

The PSA reported that subsistence incidence, or the proportion of extremely poor Filipinos, also declined to 10.7 percent in the first semester of 2013, from 13.4 percent recorded in the same period in 2012.

"The faster growth of poor households' income compared with the slower increase of basic commodity prices implies a robust increase in real incomes of the poor, which played a significant role in reducing poverty during the period," said Balisacan.

PSA said the official poverty statistics for the first half of 2013 was based on income data from the Annual Poverty Indicator Survey. Previous estimates were based on the Family Income and Expenditure Survey which is being conducted every three years.

The PSA said it releases poverty statistics periodically to guide policy makers in their efforts to alleviate poverty.