NEDA chief: Food-poor threshold at P64/day | ABS-CBN

Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
NEDA chief: Food-poor threshold at P64/day
NEDA chief: Food-poor threshold at P64/day
ABS-CBN News
Published Aug 13, 2024 05:39 PM PHT

MANILA — Sixty four pesos a day.
MANILA — Sixty four pesos a day.
That's the threshold used by the National Economic and Development Authority to classify who are food-poor.
That's the threshold used by the National Economic and Development Authority to classify who are food-poor.
Responding to questions by Senator Nancy Binay during the 2025 budget briefing at the Senate, NEDA Secretary Arsenio Balisacan cited a figure as of 2023.
Responding to questions by Senator Nancy Binay during the 2025 budget briefing at the Senate, NEDA Secretary Arsenio Balisacan cited a figure as of 2023.
"As of 2023, the monthly food threshold for a family of 5 is 9,581 Pesos, that’s a comes out about P64 per person," Balisacan said.
"As of 2023, the monthly food threshold for a family of 5 is 9,581 Pesos, that’s a comes out about P64 per person," Balisacan said.
ADVERTISEMENT
"So your still using the P20 per meal per day for a family of 5?" Binay asked.
"So your still using the P20 per meal per day for a family of 5?" Binay asked.
"Yeah, it comes out to something like P64 per person per day,” Balisacan reiterated.
"Yeah, it comes out to something like P64 per person per day,” Balisacan reiterated.
Balisacan explained to lawmakers that the figure has been adjusted to inflation.
Balisacan explained to lawmakers that the figure has been adjusted to inflation.
"Let me clarify that, the amount in terms of peso has been adjusted for inflation, meaning if the basket is rice plus some variant, the value of that in say in 2010, kasi may inflation na after so many years, that is accounted for ho na value,” Balisacan said. "Adjusted na yun ho everytime that we calculate a new poverty number, we adjust it for the inflation.”
"Let me clarify that, the amount in terms of peso has been adjusted for inflation, meaning if the basket is rice plus some variant, the value of that in say in 2010, kasi may inflation na after so many years, that is accounted for ho na value,” Balisacan said. "Adjusted na yun ho everytime that we calculate a new poverty number, we adjust it for the inflation.”
Balisacan however believes they should revisit it because preferences could have changed.
Balisacan however believes they should revisit it because preferences could have changed.
"The relative prices have changed kasi nga nakita natin yung price of rice, has been inflation din over 20 percent for the last couple of months, so obviously doon lang talagang ubos na yung P20," Balisacan said.
"The relative prices have changed kasi nga nakita natin yung price of rice, has been inflation din over 20 percent for the last couple of months, so obviously doon lang talagang ubos na yung P20," Balisacan said.
ADVERTISEMENT
ADVERTISEMENT