PH shows no improvement in poverty situation -ADB

(SPOT.ph) A study by the Asian Development Bank (ADB) shows that the Philippines has not made any positive changes in poverty in the last five years, reports ABS-CBN News. Despite the economic boost in Asia, the study suggested that the lack of improvement in the Philippines may be caused by population growth outstripping poverty reduction due to slow gross domestic product growth or worsening inequality.


Meanwhile, over 245 million Asians in neighboring countries benefited from the economic improvement and were booted out of extreme poverty in the last five years-141.13 million of which came from China. "The results indicate that even during the global economic crisis, Asia managed to further reduce the number of poor," said ADB’s report.  


However, other countries, like Indonesia, Pakistan, and Nepal, also fared badly in the study, with an increased number of people below the poverty line.


For more on this story, log on to ABS-CBN News and ADB.com.

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