SUMMARY
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The Philippines’ economic growth may be robust at 6.4% in the second quarter of 2014 – the country is the 2nd fastest growing in Asia in terms of gross domestic product – but this has not reduced poverty. The Asian Development Bank’s country director attributed the growth to the increasing output in the services and manufacturing sector. This has not been matched by poverty reduction measures that could generate enough jobs. From 3.8 million in 2006, the number of poor Filipinos increased to 4.2 million in 2012. Natural disasters have also kept many Filipinos below the poverty line.
Read the full story on Rappler.
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