PSA Says That PH Is Behind on Meeting Goals for GDP and Poverty

A report released by the Philippine Statistics Authority (PSA) shows that the chances of the country meeting the targets for gross domestic product (GDP) growth rate, poverty incidence, social protection, and infrastructure are low.

On the other hand, the Philippines exceeded targets in economic development areas such as shelter and housing.

In the 2021 Statistical Indicators on Philippine Development (StatDev) report, the PSA mentioned that 208 out of the 471 indicators covered have a big chance of meeting the target of the Philippine Development Plan (PDP) by this year.

They also mentioned that 203 have a low likelihood while 60 indicators have a medium likelihood.

StatDev is used to monitor social change and economic progress by showing the likelihood of meeting the PDP goals.

PSA mentions that their highest performing sector goes to delivering low-cost and socialized housing which went beyond their end-of-plan targets.

“The percentage of socialized housing units delivered to socialized housing targets and the percentage of low-cost housing units delivered to low-cost housing targets both exceed their end-of-plan targets of 73 percent and 100 percent, respectively,”  mentions the PSA.

The report also mentioned the low likelihood of meeting the goals such as poverty incidence, food inflation, subsistence incidence, GDP growth, and gross national income (GNI) per capita.

“The Philippines is still far from hitting its end-of-plan target growth rate of 6.5 percent to 7.5 percent.” says the PSA.

The GDP of the Philippines had a contraction of 9.5% in 2020 and increased by 5.7% in 2021.

“With an end goal of 15.5 percent to 17.5 percent, the latest report shows low likelihood of attaining the PDP end-of-plan target,” the PSA stated.

For the first semester of 2021, the national poverty incidence was noted at 23.7%

Source: Philstar