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The Philippine Statistics Authority (PSA) said around six million Filipinos rose from poverty as the government continues to beef up spending on social welfare.
The statistics agency of the Philippines reported around 17.6 million Filipinos (or 16.6% of the country’s population) were poor in 2018. The figures were compared to that of the 2015 record of 23.3% poverty incidence, accounting for about 23.5 million people, as the report revealed on Friday.
The threshold income for the poor Filipino family of five members was at 10,727 pesos ($211), according to the agency as lifted from its triennial survey.
Philippine President Rodrigo Duterte, who was first seated in 2016, was reported to have increased the budget and spending on health and education, as well as leveling infrastructure projects to create more jobs. Philippines’ economic growth is also observed as one of the fastest-growing in Asia in the past 10 years, with a 6% expansion annually.
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...
Glenmark Pharmaceuticals Ltd was given a notice by the Drug Controller General of India (DCGI) on overpricing and false claims of its generic version of favipiravir, FabiFlu, according to local media reports, sending the company’s ...
The United States Labor Department reported on Thursday that jobless claims edged down to a near four-month low since last week, while 32.9 Million Americans collected unemployment benefits in the third week of June. The government agency ...
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