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MEDIA RELEASE / 23 April 2013

IBON Foundation ∙ 114 Timog Avenue, Quezon City Philippines 1103
Phone: (632) 927-6986/927-7060 to 62 ∙ Fax: 929-2496 ∙ media@ibon.org ∙http://www.ibon.org
Reference: Mr Sonny Africa (IBON executive director)

NEW POVERTY FIGURES CONFIRM GROWTH REMAINS EXCLUSIONARY

Research group IBON says that the latest official government data on poverty incidence has proven that despite the growth registered in recent years, it has yet to be inclusive.

The National Statistical Coordination Board (NSCB) reported that as of the first half of 2012, 28 out of 100 Filipino families are living in poverty. This data, according to the NSCB, is unchanged from the same periods of 2006 and 2009. The release of the latest official poverty statistics is a result of government’s effort to release poverty data more frequently, unlike in the past where these were released every three years.

IBON pointed out that the recent poverty data does not even capture the growing wealth of the country’s rich and aggravating inequality, which underscores how economic policies remain biased for a few rather than

the poor majority.

The exclusionary quality of the economy is further affirmed by the recent statement of Labor secretary Rosalinda Baldoz, who announced that there will be no wage increase on May 1. This announcement came amid the recent Fitch investment upgrade and record Philippine Stock Exchange Composite index. But higher wages, according to IBON, are among the most important mechanisms for making growth inclusive. It added that as of March 2013, the real value of the daily minimum wage in NCR is only Php363, despite the Php10-wage increment last November. (end)

IBON Foundation, Inc. is an independent development institution established in 1978 that provides research, education, publications, information work and advocacy support on socioeconomic issues.