PSA Assistant Secretary Rosalinda Bautista said in an economic briefing on Wednesday, December 11, 2019, that Php10,727 is the minimum amount that could get a family basic food and non-food items, according to a report by CNN Philippines.
For the remaining Php3,199 in the budget, officials said it can go to non-food items like clothing, fuel, light, water, rent, house repairs, medical care, education, transportation, and personal care.
“That is known as basic needs so no frills. No fancy items there…I’m sure many families are subsisting with that kind of budget,” said Socioeconomic Planning Secretary Ernesto Pernia in a report by ABS-CBN News.
In 2015, survey results from the Family Income and Expenditure Survey (FIES) said that Filipino families had an average annual income of approximately Php267,000, which translates to around Php22,250 a month. Average expenses are at P215,000 annually or Php17,916.67 a month.
Families that earn less than Php10,727 are those who live below the poverty threshold, Secretary Pernia said.
Do you agree that Php10,727 is enough to provide for a family's basic needs? Let us know in the comments!