WHAT IS THE IDEAL GROSS INCOME FOR A TYPICAL FILIPINO FAMILY WITH 4 MEMBERS?
According to the survey conducted by the National Economic and Development Authority (NEDA),a typical Filipino family with four members has to earn Php120,000 gross monthly income to live a "simple and comfortable" life.The said amount will allow the family to live in a medium-sized house, own a car, travel occasionally and send two children to college.
79.2% of the survey participants which can be regarded as majority,say that they aspire for a simple and comfortable life and the 16.9% Filipinos say they want an affluent life,and the rest say they aspire fr the life of the rich,NEDA Director-General Emmanuel Esguerra said.
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To reach Php120,000 target,both parents should earn Php60,000/month.
The International Labor Organization calculated the average monthly wage in the Philippines at only Php11,700.Thus,the "simple ,comfortable life" that every Filipino aspires is just a wish far to be fulfilled.
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Esguerra clarifies that the study is meant to be more of a "vision" for the Philippines by 2040.The study does not ,in any way, meant for showing what our country is lacking, according to Esguerra.
“This is not meant to be prescriptive. This is just saying where Filipinos want to go, and the trade-offs. This is a vision”,He said.
According to NEDA Deputy Director-General Rosemarie Edillon, it will be easier for Filipinos to achieve this vision as long as the economy continues to grow.
Edillon said:"If we grow like we did in the past, we will achieve this. But if not, majority of the Filipinos will not be able to achieve this," .
The Php120,000 gross 4-member family income is translated to USD11,000 per capita income and can eliminate poverty in the country if achieved.
Guillermo Luz, private sector co-chairman of National Competitiveness Council, echoed his remarks saying "the wish of the private sector can turn into a reality should the public and private sectors collaborate."
"For sure, we are going to need constant research over 25 years. This requires a great deal of patience and perseverance. We all need to fully understand the value of implementation – its nuts and bolts," Luz added.
However,this vision can help the Filipinos set their goals,be it a 25-year span or even longer.We need to do our part and we must start the change within ourselves.
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Dominador Say, undersecretary of the Department of Labor and Employment (DOLE), said that talks are underway with Chinese embassy officials on this possibility. China’s five major cities, including Beijing, Shanghai and Xiamen will soon be the destination for Filipino domestic workers who are seeking higher income.
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