Poverty ratio in Phu Yen down to 2.54 per cent

Phu Yen has been doing a tremendous job with poverty reduction

The prediction was made by the Department of Labour-Invalids and Social Affairs in Phu Yen at a virtual national conference on December 11 to review the poverty reduction work in 2016-2020.

Notably, according to the report, in 2016, Phu Yen had 30,803 poor households. The figure dropped to 10,271 households (making up 3.93 per cent) in 2019 and is expected to reach 2.54 per cent by the end of this year. In addition, the average income per capita is expected to double compared to the figure reported in 2015.

In the 2021-2025 period, Phu Yen is expected that the poverty ratio would decrease by 1.5-2 per cent per year. Especially, in the poor communes, the ratio would be 2.5-3 per cent per year.

Phan Dinh Phung, former Chairman of Phu Yen People’s Committee, said poor households have enjoyed all incentive policies of the government, including incentive loans, credit policy, and health insurance. In addition, they are supported to improve their living standards via agricultural and fishery extension policies as well as technology transformation.

In the next five years, the province will continue to implement policies and more detail and methodical projects matching the National Target Programme on Sustainable Poverty Reduction.

Regarding the government’s report on reviewing the National Target Programme on Sustainable Poverty Reduction, the rate of poor households throughout the country is expected to drop to 2.75 per cent by the end of this year, which means an average decrease of 1.43 per cent over the past five years, meeting the target assigned by the National Assembly.

It is expected that the poverty rate in poor districts will decrease to about 24 per cent by the end of this year, while eight out of 64 poor districts will be lifted out of extreme difficulty. In addition, 32 districts will escape from the list of poor districts, meeting the target.

As of June 30, 2020, the total outstanding loans of policy credit handed out by the Vietnam Bank for Social Policies stood at more than VND219.5 trillion ($9.54 billion), an increase of over VND77 trillion ($3.35 billion) compared to the end of 2015.