AUDITED FINANCIAL STATEMENTS
Poverty & Microfinance
Residing in the country’s tuna capital, Marina Plasabas of General Santos City makes most of this fish’s abundance by mixing her own recipe of cured tuna products which she and her children sell by packs in the local market.
Who are the Poor? The poor refers to individuals and families whose income fall below the poverty threshold as defined by the government and/or those that cannot afford in a sustained manner to provide their basic needs of food, health, educa on, housing and other ameni es of life (based on Republic Act 8425 or the Philippine Social Reform and Poverty Allevia on Act).
14
KMBI
Na onal Scale • Out of 100 Filipinos, 33 were poor in 2006, compared to 30 in 2003. Poverty incidence increased to 26.9% for families in 2006 compared to 24.4% in 2003. Total poverty threshold amounts to 6,273.99 pesos a month. • Based on the United Na ons Development Programme’s Human Poverty Index for developing countries, the Philippines ranks 54th among 135 developing countries.