Why many Filipinos are poor: WB’s latest report
THE WORLD Bank’s most recent analysis of the Philippine economy released last month was quite underreported, probably since, as is typical of its reports, you have to wrestle through its technocratic language.
The title itself of the study doesn’t make for exciting reading: “The Philippines: Fostering More Inclusive Growth.” It would have been covered better in the press perhaps if it was titled based on its actual topic: “Why so many Filipinos are poor, and will be poor—and their numbers will certainly grow—if little is done by government.” As is typical of World Bank reports, it is a comprehensive analysis with a long list of “to-dos” for government (e.g., more efficient tax collection, more infrastructure), which, I would say, could be a good blueprint for President Aquino’s reform programs. We focus though on two of its major conclusions on why so many Filipinos remain poor.