This is from forextv.com. It is not clear how the Philippines will be able to reduce poverty. There is no mention of high population growth at least versus job growth. When I was in the Philippines I noticed that there just seemed to be many more people than jobs. The social safety net as mentioned is very much lacking. Families send members overseas because of lack of jobs in the Philippines and to help support families at home. Ageism is rampant in employment. A notice for a clerk in a mall in Legazpi stipulated that the applicant should not be above the age of thirty!
Most Filipinos seem to think that they can succeed as entrepreneurs either that or are forced to be so because there are no jobs. As a result there are little convenience stores (sari-sari stores) in every block. Also, the bus system in many areas consists of privately owned jeepneys. Most of these businesses are marginal or even losing propositions.
Surplus labor power makes the Philippines a place where labor costs will be cheap. The education system produces many students who have the skills for work in the Global economy. If poverty is much reduced then labor might be more expensive and the powers that be might not be too happy about that.
The powers that be will crow about growth and the problem of poverty can be left to the Church.
Philippines needs to tackle constraints to growth, poverty reduction - ADB
02/05/08 10:27 am (EST)
MUMBAI (Thomson Financial) - The Asian Development Bank (ADB) said Philippines needs to identify the most critical factors that constrain growth and poverty reduction in order to sustain the current pace of growth or even accelerate it.The bank said critical constraints to growth include tight fiscal situation, inadequate infrastructure, weak investor confidence due to governance concerns, in particular, corruption and political instability, and the inability to address market failures leading to a small and narrow industrial base.Critical constraints to poverty reduction include lack and slow growth of productive employment opportunities, inequitable access to development opportunities, especially education, health, infrastructure, and productive assets and inadequate social protection and social safety nets.Removing these three constraints will result in increased private investments from domestic and foreign sources, the agency said. The government will also need to address the market failures in order to encourage investments in diversifying and expanding the manufacturing sector and exports, and in upgrading the level of technology, the ADB added.TFN.email@example.com