P64/day na budget para masabing food-poor ang isang tao, pinare-review ng ilang senador | Saksi - video Dailymotion

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00:00The Development Budget Coordination Committee in the Senate issued a briefing saying that

00:05you are food poor if your daily budget is P64 less than the budget for food.

00:10That's P20 less per meal.

00:12But some Senators are asking, shouldn't the budget be changed?

00:16Especially since the price of food is getting more and more expensive.

00:20Watch this, Ma'am Gonzales.

00:21The National Economic and Development Authority, or NEDA, is asking Senators to review poverty.

00:32In the beginning of the briefing of the Development Budget Coordination Committee in the Senate,

00:36it was announced that you are food poor if your daily budget is P64 less than the budget for food.

00:43But that's three meals a day, right?

00:46So it's like P20 per meal.

00:53Do you think that number is sufficient, P20?

00:59The basket has not been changed for some time, Your Honor.

01:06Although the value of that basket has been adjusted for inflation.

01:11Maybe you should revisit that because preferences could have changed already.

01:16The relative prices have changed.

01:19Because we saw that the price of rice has been...

01:22Inflation there has been over 20% for the last couple of months.

01:26So obviously, that's where the P20 is running out.

01:31In the poverty threshold, the basket is P91 per person per day

01:35to say that you are poor or you don't have P3,000 in a month.

01:40When you compute poverty thresholds using an old number,

01:45which is obviously not workable anymore, P20 per meal,

01:51your poverty forecast is not true.

01:56Secretary Arsenio Balisacan explained that they are not changing the threshold

02:01to track properly if the government's programs on poverty have an effect.

02:06I think it's due for a revisit of our poverty threshold

02:11because it's been a while, more than a decade since it was set.

02:16The Central Bank of the Philippines is hoping that the country's inflation rate will drop by 2-4%.

02:22They say that lowering the price of rice is a big help.

02:25Price prices affect inflationary expectations

02:29and these expectations lead to second round effects.

02:34EO62 to reduce the tariff on rice will be so helpful in our efforts to tame inflation.

02:42Finance Secretary Ralph Recto said that the unemployment rate is the lowest

02:47and that more Filipinos are suffering from poverty in 2024.

02:52Our unemployment rate is at a historic low.

02:57We have 50.3 million Filipinos employed today

03:03and 63.8% of them are engaged in formal and stable jobs.

03:09With favorable conditions, we are on course to becoming an upper-middle-income country by 2025.

03:18For GMA Integrated News, I'm Mav Gonzalez, your witness.

03:24Kapuso, let's be witnesses together!

03:27Subscribe to GMA Integrated News on YouTube

03:30and for Kapuso Abroad, join us on GMA Pinoy TV and www.gmanews.tv

P64/day na budget para masabing food-poor ang isang tao, pinare-review ng ilang senador | Saksi

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