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Business Mirror - Bongbong slams Noynoy on ‘failure’ to alleviate poverty

In The News
30 April 2013

By Mia M. Gonzalez | Business Mirror

businessMirrorEconomic growth has yet to alleviate poverty in the country under the Aquino administration, making it no different from its predecessor, a senator said on Monday.

Sen. Ferdinand “Bongbong” R. Marcos Jr. made the statement following the report of the National Statistical Coordination Board (NSCB) that the poverty level in the country in the first half of 2012 remained statistically unchanged since 2006.

“The problem is the same during the GMA [Gloria Macapagal-Arroyo] administration when the growth rate of the economy was strong, the beneficiaries of that growth were only large corporations and rich investors, not ordinary Filipino citizens,” Marcos said.

He said the problem of “inequitable distribution of wealth” during the Arroyo administration “is the same problem that we have now.”

“We see that there is strong growth but there is terrible distribution of wealth, hence the continuing poverty rate,” the senator said.

In the first half of 2012 the ratio of poor Filipinos to the population was at 27.9 percent from 28.6 percent in the same period in 2009, and 28.8 percent in 2006.

The senator said the latest poverty figure should serve as a “wake-up call” for the administration.

Malacañang had earlier said the NSCB report was only based on the first half of 2012, and believed that there would be improvements in the second semester of that year onward.