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From 2018 to 2021, an estimated 2.3 million Filipinos fell into poverty amid the economic recession caused by the COVID-19 pandemic. [ 4 ] [ 5 ] In 2018, the rate of decline of poverty has been slower compared with other East and Southeast Asian countries, [ 6 ] such as People's Republic of China (PRC) , Thailand , Indonesia , or Vietnam .
As prescribed by House Rules, the committee's jurisdiction is on the policies and programs that will tackle the poverty situation and similar measures on poverty alleviation including the promotion of the poor's right to equal access to opportunities for a better quality of life. [1]
As of September 2018, the poverty rate stood at 9.66% (some 25 million people), the lowest ever recorded. [4] With the COVID-19 pandemic causing an economic downturn, Statistics Indonesia reported 1.63 million Indonesian fell into poverty in March 2020, raising the total poverty number to 26.42 million people. The government expected the ...
Further progress towards debt relief was announced on December 21, 2005, when the IMF granted preliminary approval to an initial debt relief measure of US $3.3 billion for 19 of the world's poorest countries, with the World Bank expected to write off the larger debts owed to it by 17 HIPCs in mid-2006."
Among ASEAN member countries, Indonesia was China's fourth-largest trading partner, which, according to data as of May 2010 from the Ministry of Commerce of the People's Republic of China, amounted to US$12.4 billion, after Malaysia (US$22.2 billion), Singapore (US$17.9 billion) and Thailand (US$15.7 billion). [125]
An Act establishing an economic stimulus strategy for the country's growth and development in the aftermath of COVID-19, providing funds therefor June 4, 2020 [7] [8] House Bill No. 6816 Financial Institutions Strategic Transfer (FIST) Act An Act ensuring Philippine financial industry resiliency against the COVID-19 pandemic June 2, 2020 [9] [10]
During 2020, Indonesia had a large net trade with Philippines in the exports of Transportation ($1.94B), Mineral Products ($1.46B), and Foodstuffs ($803M). [38] Philippines also had a large net trade with Indonesia during 2020 in the exports of Machines ($211M), Chemical Products ($77.6M), and Metals ($72.3M).
The underemployment rate eased to 26.2 percent in 2012 from 28 percent in 2010, but is still much higher than the end-of-plan target of 20 percent. Employment in the region has increased by 2.79 percent between 2010 and 2012, a bit higher than the national average of 2.16 percent.