On the promises in Arroyo’s SONA

MoneySmart made a quick list of GMA’s promises for the economy in her recently concluded SONA. One item quickly caught my eye: stronger and wider social safety nets.

In my work for ADB, I have learned that one of the major obstacles to poverty reduction efforts is the vulnerability of the poor to socio-economic shocks.  An illness, a layoff, a death in the family, a natural disaster… all these unexpected occurrences can make a middle income family suddenly part of the poor majority.