BUSINESSMIRROR: 18 million Filipinos live below P50/day, says ADB study
The percentage of the Philippine population considered to be poor is higher than the Southeast Asian average, based on a study of the Asian Development Bank and the National University of Singapore, titled Ending Asian Deprivations. The report said around 17.71% of the populace, or close to 18M Filipinos-based on the estimated 98 million Phil population-still live BELOW $1.25 a day (about P50), which is the internationally accepted poverty line. This is DEPRESSING considering that the combined wealth of the 50 RICHEST families in the country already equaled 25 PERCENT of Philippine gross domestic product (GDP).
The percentage of the Philippine population considered to be poor is higher than the Southeast Asian average, based on a study of the Asian Development Bank and the National University of Singapore, titled Ending Asian Deprivations. The report said around 17.71% of the populace, or close to 18M Filipinos-based on the estimated 98 million Phil population-still live BELOW $1.25 a day (about P50), which is the internationally accepted poverty line. This is DEPRESSING considering that the combined wealth of the 50 RICHEST families in the country already equaled 25 PERCENT of Philippine gross domestic product (GDP).
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