PhilStar-Sept 29

Around 2 million Filipinos would slide back to poverty this year because of the pandemic, nearly erasing gains over the past 5 years and making a rebound to pre-pandemic growth a struggle for the Philippines. The poverty rate could rise to 20.5% this year and 22.4% next year from the official 16.7% in 2018, the World Bank said on Tuesday. “The ‘new poor’ are those who were unable to work during the pandemic,” Rong Qian, senior economist, said in a briefing.

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https://www.philstar.com/business/2020/09/29/2045941/world-bank-sees-2-million-more-poor-filipinos-pandemic