The World Bank's projection that the poverty rate will fall below 20% by 2020 is consistent with the government's goal of reducing poverty by the end of President Rodrigo Duterte's term.
Malacañang on Thursday praised the World Bank's Macro Poverty Outlook for East Asia and the Pacific as "good news" that should encourage civil servants to "double their efforts."
"The latest World Bank report on macro-poverty for East Asia and the Pacific is good news for us as it recognizes the strength and resilience of our domestic economy," said presidential spokesman Salvador Panelo.
In a statement, Panelo said the report – which projects the poverty rate will fall below 20% by 2020 – is "proof that there has really been a genuine and tangible change."
A World Bank report that predicted that the poverty rate will fall to 20.8% in 2019, 19.8% in 2020 and 18.7% in 2021, or the last full year of the Duterte administration.
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