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Filipinos Are No Longer Poor?
« on: August 22, 2007, 04:30:03 PM »
Fewer Filipino families now consider themselves "poor" compared to the previous quarter of the year, according to a recent survey by the Social Weather Stations (SWS).

The Second Quarter 2007 SWS survey conducted in June found that while nearly one in every two Filipino families (47 percent) -- or roughly 3.8 million households nationwide -- still consider themselves poor, this was lower than the 53 percent (over 4.2 million households) who considered themselves poor in February.

Across geographical areas, self-rated poverty was at 52 percent in the Visayas, 49 percent in Mindanao, 47 percent in the rest of Luzon and 36 percent in Metro Manila -- all lower than in the previous three quarters.

It was also lower at 41 percent in urban areas and at 54 percent in rural areas. "From March 2005 to February 2007, urban poverty was between 46 percent to 56 percent, and rural poverty was between 49 percent to 64 percent," the SWS said in a statement released Tuesday.

The private polling firm added that the decline occurred "in the context of a lowering of families' living standards" -- in other words, belt-tightening.

The National Statistical Coordination Board put the official poverty threshold nationwide at P6,195 a month -- the amount needed by a Filipino family of five to meet its most basic food and non-food needs for this year.

The self-rated poverty threshold is defined as the monthly budget that poor households say they need in order not to be poor.

The survey, directed at household heads, first showed the respondents a card that contained the words "Not poor", "On the line" and "Poor" and were asked where they would place their family given the choices.

Those who answered "poor" were then asked, "How much money would your family need for home expenses each month in order not to be called poor anymore?"

Among poor households in Metro Manila, the median poverty threshold was only P9,000, although it had already reached as much as P15,000 several times in the past.

In Luzon outside Metro Manila, the threshold ranged from P5,000 to P7,000 in the past two years, whereas it had reached as high as P10,000 earlier. In the Visayas, the threshold was at P6,000 for the past year, even as it had reached P10,000 previously. In Mindanao, the threshold is currently at P4,000 even though it reached P10,000 before.

"A declining poverty threshold, despite rising cost of living, means that households are lowering their living standards," the SWS said.

It also noted that the current Metro Manila median poverty threshold of P9,000 per month was only equivalent to P6,259 in base year 2000 purchasing power. "The last time that the deflated poverty threshold for [Metro Manila] was below P7,000 per month was twenty years ago, in 1987," the SWS said.

It also noted that in 2000, the median poverty threshold for Metro Manila of P10,000 was now equivalent to P14,380 a month at the June 2007 cost of living. "The difference of... P5,380 between the thresholds of 2000 and June 2007 measures the extent of belt-tightening that took place," SWS added.

The survey was conducted from June 27 to June 30 using face-to-face interviews with 1,200 adults divided into random samples of 300 each in Metro Manila, the rest of Luzon, Visayas and Mindanao. It had a margin of error of plus-minus 3 percentage points.

The SWS survey questions on poverty were not commissioned.

source: www.inquirer.net

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Bambi

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Re: Filipinos Are No Longer Poor?
« Reply #1 on: August 22, 2007, 11:14:23 PM »
Good to know... but it still remains a big question.  Based on the statistics... numbers, percentage and the exposed rush developments in terms of new build-up houses, considering the Filipinos high way of a showy life. Never to forget, that our means of livehood is still based on debts,mortgagees, high percent of jobless, business depressions  and it continues as a big unsolved problems as long as the political morality remains. 

Well, Mike had read in your issued towns statistics (only in Bohol) the high percentage of hungry mouth to feed is quite fearing and sad. It is sensation to finalize that the Philippine country as a whole free from this delimna, that is my opinion.


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Re: Filipinos Are No Longer Poor?
« Reply #2 on: August 23, 2007, 06:44:00 AM »
Great article, pre. I'm glad to know that overall--our bayan is doing good. Lets pray that it continues this trend. Mabuhay ang Pilipinas!
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buenavista

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Re: Filipinos Are No Longer Poor?
« Reply #3 on: August 25, 2007, 10:43:38 AM »
sure sila ani?kadaghan mga kababayan nato na nag-antus sa kalisud ilabi na kadto naa sa suok na lugar..halos dili man gani kakaon 3 times sa usa ka adlaw..

Bambi

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Re: Filipinos Are No Longer Poor?
« Reply #4 on: August 25, 2007, 10:51:27 AM »

mao gani.... we have still this worthliving life, the "KAKHA-TOKTOK" method.  Kumusta ka na diha silingan sa una? Kayod pod ba in order not to belongs to the so called: No longer poor Filipinos? Hinay-hinay lang


buenavista

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Re: Filipinos Are No Longer Poor?
« Reply #5 on: August 25, 2007, 10:59:19 AM »
super kayod..pero bisan unsaon lisud man lang ghapon :(

Bambi

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Re: Filipinos Are No Longer Poor?
« Reply #6 on: August 25, 2007, 11:32:05 AM »
 like me pod

Gervistill

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Re: Filipinos Are No Longer Poor?
« Reply #7 on: August 29, 2007, 03:53:50 PM »
Indeed our economy is on the right track..the government is very much confident that we can reach the 7% GDP growth this year.
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slackware

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Re: Filipinos Are No Longer Poor?
« Reply #8 on: August 29, 2007, 11:22:45 PM »
Kamo lang! Ako poor lang gihapon! huhuhuuhuhu!  :-[
"All that is needed for evil to succeed is, that decent human beings doing nothing". (Edmund Burke)

Lorenzo

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Re: Filipinos Are No Longer Poor?
« Reply #9 on: August 29, 2007, 11:33:42 PM »
The Philippines is definately progressing, the last time I checked up on the Philippines, our Gross Domestic Product was at $ 508 Billion--and the gdp per capita was at $5,000. Very good, in my opinion. Lets hope that our GDP rises to 600 billion--and the per capita at around ~$9000.

Our country is no longer considered 'third world' anymore, its formally an 'industrializing nation'.

Well done, Philippines!!

Macky Ferniz

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Re: Filipinos Are No Longer Poor?
« Reply #10 on: August 30, 2007, 01:04:11 AM »
Manpower Export in the Philippines are one of the big contributors of this success. Ironically, OFW's are also the ones affected & loosing by this economy improvement. Unfotunately, as the economy soars, the exchange rate of Peso against the Dollar decreases. Like in my situation; before, I used to send money at 14 Peso per Saudi Riyal. Now, it barely reaches 12. That is a 14% reduction in earning at the same level of work/effort.

Hence, some of the OFW groups are organizing a petition to the president through a web campaign: http://petition.patnubay.com/

However, I don't know how effective this campaign is and I am not very confident that our leaders would listen.
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Bambi

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Re: Filipinos Are No Longer Poor?
« Reply #11 on: August 30, 2007, 04:19:33 AM »
Nice to hear this started action Macky  but i'm afraid that  the one concern to entertain such -  whomever is designated to
(the so-called Leader) will might ignore it.   pls. try to verify and report anytime whatever the outcome ok and tnxs....


Lorenzo

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Re: Filipinos Are No Longer Poor?
« Reply #12 on: August 30, 2007, 06:15:57 AM »
The Philippines is a country of tremendous contrasts and extremes ;The economy is basically agricultural, with rice, corn, and kamote (sweet potatoes) the staple food crops. Key cash crops include coconuts, fruits and vegetables, sugar, tobacco, and abaca (the famous "Manila hemp" used for rope making). In aggregate, about two-thirds of Filipinos continue to depend on the agricultural sector.

The Philippine archipelago is rich in natural resources, as reflected in the fact that foreign exchange earnings have traditionally been derived largely from export of primary commodities. The export of fruits and vegetables, especially pineapple products and bananas, plays a key economic role every year. Among the minerals that the Philippines produces are copper, gold, nickel, chromium, iron, and manganese. Mining will continue to be important in the future, particularly copper, nickel, chromite, and iron. It is estimated that 90% of the country's mineral resources are unsurveyed and undeveloped. However, operating costs are high by international standards and many gold mines and other operations aren't economically viable at this time.

The country still has substantial timber land, primarily hardwoods of the dipterocarp family. Philippine mahogany and narra wood are widely considered among the finest in the world. Exporting logs was banned in 1976, fueling the growth of sawmills, plywood and veneer factories, and other value-added manufacturing ventures with wood as raw material. Overall, however, the country's forests are now largely depleted by inadequate reforestation, shifting cultivation patterns, and illegal cutting. Production of timber is currently suspended.

The manufacturing sector continues to increase its share of GDP relative to the traditional agricultural and mining sectors. Before the Ramos' years, manufacturing tended to be concentrated in processed foods (sugar, coconut oil, canned fruits), textiles, clothing, oil, wood products, transportation equipment, and the like. These sectors continue to be key, but manufacturing activity is shifting towards electronics components and related goods for export.

A major transition is now underway, involving various sectors that capitalize on the many strengths of the Philippines' first-rate labor force. The country has millions of eager, well-educated, and English speaking workers. There are now an estimated 250,000 engineers and technicians, with the nations' colleges pumping out 30-40,000 new engineering and technical grads each year. They are joined by thousands and thousands of "commerce" and marketing graduates on what is rapidly becoming a glutted labor market  .

Which means that the Philippines' comparative advantage - the low wage rates earned by those graduates - is not likely to go away. According to the Semiconductor and Electronics Industries of the Philippines, salaries for production mangers range from $1000-1500 per month and for production supervisors $450-700. Well-qualified customer service representatives (CSRs) in the many call centers around Manila earn about $200-300 a month; the current estimate is that it costs about 1/6 per seat what it does in the states. And stateside companies who have outsourced here are reportedly thrilled by the quality of the customer service compared to what was being delivered at their previous call centers in the Southern United States.

According to Hong Kong's Political and Economic Risk Consultancy (PERC), the Philippines is the only Southeast Asian nation besides Singapore with a labor force with the potential to move beyond a manufacturing focus to a higher value-added level. PERC ranks the Philippines as 4th in Asia on quality of labor force (trailing only Japan, Taiwan, and Singapore).

One challenge for the country is its low domestic savings rate. According to a recent study presented by economist Y.H. Kim at the Asian Development Bank, gross domestic savings as a percentage of GDP declined from 19% in 1994 to 17% in 2000. That puts the Philippines in the "low savings" rate category along with Bangladesh, Myanmar, and Uzbekistan. In contrast, Thailand, Malaysia, and Singapore all have savings rates over 30%.

However, as the nation's gdp real growth rate soars at an amazing 7%, with export rates ever increasing at 10% annually---the country is in the verge of outpacing its neighbours---with a healthy balance of service, agricultural and manufactural--the economy is predicted to rise to new levels.

Bambi

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Re: Filipinos Are No Longer Poor?
« Reply #13 on: August 30, 2007, 06:24:04 AM »
Hi Pare!

Porbida pong taasa ning imong diskurso oi.....mapobre kog samot inig binasa unya tagsa bouk rang iningles naho. I will try to read this time ok

more power and god bless!

ms da binsi

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Re: Filipinos Are No Longer Poor?
« Reply #14 on: August 30, 2007, 10:34:27 AM »
The Filipinos are not poor but the government is poor, sakto ba ko???
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Gervistill

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Re: Filipinos Are No Longer Poor?
« Reply #15 on: August 30, 2007, 12:58:08 PM »
Flash NEWS!!!!
GDP in Q2 rises by 7.5% from 5.5%, fastest in 2 decades

By Lira Dalangin-Fernandez
INQUIRER.net


(UPDATE) MANILA, Philippines -- Buoyed by remittances from Filipinos abroad, gross domestic product (GDP) and gross national product (GNP) rose by 7.5 percent and 8.3 percent, respectively, in the second quarter of 2007.

No less than President Gloria Macapagal-Arroyo made the announcement Thursday during a briefing in Malacanang with her economic team hours before she was due to depart for Malaysia.

"As I leave for Malaysia to join other ASEAN leaders in the 50th anniversary of Malaysia's independence from British rule, I am elated that for the second quarter of this year, our gross domestic product or GDP rose by 7.5 percent and gross national product or GNP by 8.3 percent, bringing to 7.3 percent our economic growth in the first half of the year," she said in a statement.

"We bring this elation and pride to Malaysia, the third largest economy in the region, and second home to thousands of overseas Filipino workers. I will bring thanks and congratulations to the Filipinos in Malaysia for their contribution to our GNP growth," she said.

Arroyo said the 7.5 percent GDP growth this year from 5.5 percent in the same quarter last year was the "fastest growth in two decades."

In her presentation of the second quarter economic performance, Estrella Domingo, secretary general of the National Statistical Coordination Board (NSCB), attributed the GDP growth to the strong remittance and robust performance in trade, construction, manufacturing and sustained increase in household spending and investment in construction.

Arroyo stayed on to listen to the presentation.

The GDP growth came despite the holding of the senatorial election last May, which some business sectors predict would slow down growth.

Acting socioeconomic planning secretary Augusto Santos said the strong performance of the economy showed that macroeconomic reforms have been effective.

But he said much needs to be done to push for policies to boost business, modernize agriculture, strengthen small entrepreneurs, expand enterprise, and spend more for social services, especially for education and health.


 :D :)

Macky Ferniz

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Re: Filipinos Are No Longer Poor?
« Reply #16 on: August 30, 2007, 03:26:26 PM »

As above report, it is quite clear that “overseas manpower remittances” contributes the biggest factor of this growth.
However, analyzing the current situation, I am pretty much worried about our low savings rate. An economy is not determined by how much money you make, but how much money you keep. There must be a coordinated drive from our various industry sectors to leverage from this growth and utilize it for further growth; i.e. since our economy shows a promising figure, there will be leniency in terms of foreign assistance and international loans to our private industries, thus accelerating turn-over, cash-flow, etc.

Moreover, if the present government fails to look after the welfare of overseas manpower; i.e. device a policy to subsidize the x-rate, I am afraid that the very industry that fuels our economy will soon collapse. It is a sort of industry suicide, shall I say.

If everything fails, we will go back to square one, where we send poor/desperate people abroad to earn dollars and so on.

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Re: Filipinos Are No Longer Poor?
« Reply #17 on: August 30, 2007, 04:05:45 PM »
filipinos are still poor...very hungry....



junayag

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Re: Filipinos Are No Longer Poor?
« Reply #18 on: August 30, 2007, 04:08:24 PM »

I've heard an interview with the Chief Economist, Finance Secretary and of the Gov. of Central Bank that massive flow of dollars into our economy / country has bad impact....and they are aware of that... to be in their action plan is to balance the effects to the economy...

we OFWs are only concerned on the currency exchange which we considered as a benchmark ... but there are a lot more facets where economic success should be based...

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Re: Filipinos Are No Longer Poor?
« Reply #19 on: August 30, 2007, 04:54:57 PM »

They should to avoid "bubble economy"..





We the overseas Filipinos are expected to send back $14.7 billion in remittances to our ancestral homeland in 2007 which represents 13.5% of the country's GDP.



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