Lifting Filipinos out of poverty is essential to achieve the Philippine Development Plan 2017–2022 target of becoming an upper middle-income country. The Philippines is also committed to the Sustainable Development Goal of eradicating poverty by 2030. This Policy Note examines how the country fares in poverty reduction. It finds a significant decline in poverty incidence from 2012 to 2018 due to sustained economic growth and redistributive policies. However, shocks such as the COVID-19 pandemic, natural disasters, and catastrophic illnesses push people into poverty. The author notes that while it may take several years before the country can go back to its pre-pandemic growth path, reducing poverty is doable. She recommends increased opportunities in education, health, and livelihood for the poor and marginalized sectors. Risk management tools, such as agricultural insurance and health insurance programs, and adequate safety nets are also necessary to prevent people from falling into poverty. Further, well-designed and well-targeted social protection programs are vital to better address the needs of the poor.