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Additionally, the Philippines and the World Bank have set goals for the Philippines by 2040. By that time, the Philippines wants to be free from poverty and sustain a prosperous middle class. [39] In order to do so, the World Bank estimates that income per capita must triple by way of having its economy grow at an average annual rate of 6.5%. [40]
The international poverty rate used by the World Bank is used in the following list. The national poverty rate of the Philippines was estimated to be at 22.4% in early 2023. This was the share of the Population whose per capita income was not sufficient to meet the basic food and non-food needs. [1]
The Philippines has a comprehensive banking system encompassing various types of banks, from large universal banks to small rural banks and even non-banks.As of September 30, 2022, [1] there were 45 universal and commercial banks, [2] 44 savings banks, [3] 400 rural and cooperative banks, [4] 40 credit unions and 6,267 non-banks with quasi-banking functions, all licensed by the Bangko Sentral ...
Rank Bank name Assets (millions of PHP) Asset change Rank change 1 BDO, Inc. 4,508,065.88: 2 Land Bank of the Philippines (LBP) 3,325,085.09: 3 Metropolitan Bank and Trust Company (Metrobank)
Regions first came to existence on September 24, 1972, when the provinces of the Philippines were organized into eleven regions under Presidential Decree No. 1 as part of the Integrated Reorganization Plan of President Ferdinand Marcos. [1] Since that time, other regions have been created and some provinces have been transferred from one region ...
Metro Manila, the capital region of the Philippines, is a large metropolitan area that has several levels of subdivisions. Administratively, the region is divided into seventeen primary local government units with their own separate elected mayors and councils who are coordinated by the Metropolitan Manila Development Authority, a national government agency headed by a chairperson directly ...
The U.N. World Food Programme (WFP) was ordered by Washington to stop work on dozens of U.S.-funded grants, according to an email seen by Reuters, that was sent five days after Secretary of State ...
Below is a full list of primary-level subdivisions of local government in the Philippines. As of June 11, 2024, there are 82 provinces ( province ), 33 highly urbanized cities ( HUC ), 5 independent component cities ( ICC ), and one independent municipality ( NCR municipality ).