P10,000 monthly budget ‘hypothetical,’ NEDA clarifies
The agency is setting the record straight a day after the blunder.
The National Economic and Development Authority (NEDA) has issued a statement a day after a June 5 press briefing where they showed a working budget of P10,000 a month for a family of five.
The NEDA then said that this figure was only “hypothetical,” which they used to compute how much Filipinos would have to shell out to cover the cost of inflation.
“The budget was broken down into items commonly consumed by a Filipino household based on the Consumer Price Index weights published by the Philippine Statistics Authority,” the NEDA said on Wednesday.
“NEDA showed the specific commodities most affected by inflation (e.g. food and fuel). The agency also explained the causes, citing the minimal contribution of tax reform to price increases, and detailed concrete actions the government is taking to address these.”
Someone spending P10,000 a month will have to add P459 to their monthly expenses due to rising prices, the NEDA said.