Many Filipinos ‘one shock away’ from poverty

Despite years of poverty reduction in the Philippines, many households—including a large share of the emerging middle class—remain highly vulnerable to economic shocks that could push them back into poverty, according to the Philippine Institute for Development Studies (PIDS).

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In a policy note titled “Escaping Poverty Is Not Enough: Vulnerability, Risk, and the Fragile Middle Class in the Philippines,” published on Thursday, March 5, researchers at the state-run think tank said improvements in income poverty have not fully translated into lasting economic security for many Filipino families.

“Poverty reduction alone does not guarantee economic security... Many Filipinos who have exited poverty remain highly exposed to shocks and face a substantial risk of falling back into deprivation,” said PIDS supervising research specialist Deanne Lorraine D. Cabalfin, senior research fellow Jose Ramon G. Albert, and research analyst Mohammad A. Mahmoud.