Pilipinas, maaaring ituring na ”upper middle income country” sa 2025, ayon sa NEDA | 24 Oras

Summary

The Philippines is projected to become an upper-middle-income country by 2025, according to the National Economic Development Authority (NEDA). However, some groups argue that this doesn't reflect the true earnings of most Filipinos. A study by IBON Foundation reveals that only 2% of Filipino families earn significant incomes, while 66% earn less than PHP 6,000 monthly. While the government aims to address these disparities through measures to control inflation and create quality jobs, critics argue that the vast income inequality skews the average figures, benefiting the wealthiest more than the majority of the population.

Takeaways

• 😀 The Philippines is projected to be classified as an upper-middle-income country by 2025, according to NEDA.
• 😀 The average income for Filipinos in 2025 is expected to be $4,264 or over Php 246,000 annually.
• 😀 Despite the growth in national income, the real earnings of many Filipinos do not reflect the country's income classification.
• 😀 EJ Flores, a jeepney driver, reports a significant decrease in his earnings over the years, from Php 700 to Php 500 per day.
• 😀 Many Filipinos, like EJ Flores and his wife, are struggling with the rising cost of living and the difficulties of meeting basic needs.
• 😀 The National Economic Development Authority (NEDA) emphasizes the growing disparity in income distribution, where the richest Filipinos earn significantly more than the majority.
• 😀 According to IBON Foundation, 2% of Filipino families earn Php 500,000 to Php 10 million a month, while 66% earn less than Php 6,000 per month.
• 😀 The claim that the Philippines is an upper-middle-income country is based on the large incomes of the wealthiest, which distort the average figures.
• 😀 NEDA acknowledges the need for greater income growth for many Filipinos and is implementing measures to address this gap, such as controlling inflation and promoting business growth.
• 😀 Government actions aim to improve the economic conditions for the middle class and reduce poverty, as part of broader efforts to foster inclusive growth in the Philippines.

Q & A

What is the current economic status of the Philippines according to NEDA?

According to the National Economic Development Authority (NEDA), the Philippines is expected to be considered an upper middle-income country by 2025.

What is the average income of Filipinos as stated by NEDA in the upcoming year?

The average income of Filipinos in 2025 is projected to be around 4,264 US dollars, or more than PHP 246,000 per year.

What does the term 'upper middle-income' refer to according to the NEDA statement?

Upper middle-income refers to countries whose average income per capita is within a certain range set by the World Bank, in this case, around 4,264 US dollars annually.

What is the difference between GDP and GNI as mentioned in the script?

The script explains that the measure used by NEDA is Gross National Income (GNI), not Gross Domestic Product (GDP). GNI includes the total income earned by residents of a country, both domestically and internationally.

Why does the Ibon Foundation disagree with the idea that the Philippines is an upper middle-income country?

The Ibon Foundation argues that the figure does not reflect the true income of many Filipinos. They believe that the country's average income is skewed because the wealthiest individuals have very high earnings, which affects the overall average.

What is the income disparity between Filipino families according to Ibon Foundation's study?

According to the study, only 2% of Filipino families earn between PHP 500,000 to over PHP 10 million per month, while 66% of Filipino families earn less than PHP 6,000 a month.

How does the disparity in income affect the national average income?

The disparity in income, with a few wealthy families earning significantly more, raises the average national income, even though the majority of the population earns much less.

What actions does NEDA propose to improve the situation for Filipinos?

NEDA acknowledges the need to increase the income of many Filipinos and suggests that the government is taking steps such as controlling inflation and promoting business growth and quality jobs to achieve this goal.

What does NEDA say about the growth of the middle class and the poor?

NEDA emphasizes that, in addition to the growth of the middle class, there is a particular focus on improving the conditions of the poor in the country.

What is the main challenge faced by Filipino jeepney drivers like EJ Flores, as mentioned in the script?

Filipino jeepney drivers like EJ Flores report that their income has decreased significantly over the years, with earnings dropping from around PHP 700 to PHP 500 a day, making it difficult to meet their family's needs.