00:00The Philippines could be considered as an upper-middle-income country in the next year, according to NEDA.
00:07But a group said that it does not reflect the real income of many Filipinos based on their studies.
00:16Maki Pulido was able to point it out.
00:22Within almost four decades of the passing of EJ Flores' jeep, he only earns a small amount of money.
00:29Before, we used to earn P700. Now, it's only P500.
00:35According to his wife, they can hardly afford their needs.
00:40Life is hard, just like us. Our journey is hard.
00:45But according to the National Economic Development Authority, NEDA,
00:48in the next year, 2025, the Philippines could be considered as an upper-middle-income country.
00:55It means that the average income of every Filipino is 4,256 U.S. dollars or more than P246,000 per year,
01:04based on the figure set by the World Bank.
01:07Its basis is not GDP per capita. It is gross national income.
01:13And in the last few years, our gross national income is growing faster than our GDP.
01:18But according to the IBON Foundation, it does not reflect the real income of many Filipinos.
01:24What it means is that the richest in the country earns a lot,
01:28so all Filipinos are divided to increase the average annual income.
01:34According to the study of the group, only 2% of the Filipino families earn P500,000 to more than P10 million per month,
01:42while 66% of the Filipino families earn less than P26,000.
01:50The average income of the upper-middle-income is because of the huge income,
01:56which is the lowest income of the majority.
02:01NEDA accepts that the income of many Filipinos needs to increase,
02:05and the government has plans to achieve this.
02:08There are only a few controls on the speed of purchasing goods,
02:12and the development of business and quality of work.
02:15You should take that in the context of the other things that we are doing
02:19to make sure that the middle class grow, and the poor in particular grow.
02:25For GMA Integrated News, Mackie Pulido, Nakatuto, 24 Hours.
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