Malacañang is pleased with the reduction of poverty in the country since 2006 as a "major achievement" not only by the government but all Filipinos.

Presidential Spokesman Ricardo Saludo admitted that the “development momentum” would show its full benefit in years to come.

A study commissioned by the Asian Development Bank has showed that poverty incidence has decreased from 33 percent in 2006 to 28.1 percent in 2008 and 29.7 percent in 2009.

"We are gratified by the ADB report on the decline in poverty by a significant three percentage points since 2006, despite global recession and escalating oil and food prices. This is equivalent to some 2.5 million Filipinos, or about one-third the population of Metro Manila, rising out of poverty in the past three years, despite global recession and escalating food and energy prices,” he said.

"This data affirms the advances achieved through unbroken growth, flagship development programs, huge infrastructure and rural projects, and poverty alleviation initiatives, especially microfinance and conditional cash transfer, which are now models for the world,” he said. (Genalyn Kabiling)