World Bank sees poverty rate falling below 20% in 2020

October 17, 2019

The World Bank expects poverty rate in the Philippines to fall below 20 percent starting in 2020.

In its Macro Poverty Outlook for East Asia and the Pacific report, the World Bank forecast poverty incidence at 20.8 percent by end-2019, down from 26 percent in 2015.

The report was released on Tuesday.

"Medium-term poverty projections based on the middle-income poverty line of $3.20 a day show the poverty rate declining from 26 percent in 2015 to 20.8 percent in 2019, 19.8 percent in 2020 to 18.7 percent in 2021," it said.

“Despite a temporary growth slowdown in the first half of 2019, progress on shared prosperity is likely to continue,” it said. DMS