I was also taken aback by the National Economic and Development Authority’s (NEDA) recent estimation of how one might manage to eat three meals a day on just ?64. According to these so-called experts, this amount should cover an entire day’s worth of food, which translates to approximately ?21.33 per meal. Reflecting on my own daily meals --typically a half cup of rice, a slice of meat, and some vegetables-- this budget seems laughably insufficient. With the current surge in the prices of basic commodities, this figure is not just unrealistic; it’s disconnected from reality.
What kind of alternate reality are these individuals in? Did we forget the recent food security crises this administration faced? We all remember the controversy surrounding onion prices and the sugar shortage, among many others. For many, imagining a full meal three times a day has become a dream because their budgets simply cannot stretch that far. This disparity reinforces the troubling reality that the rich are getting richer while the poor are sinking deeper into hardship.
It is particularly disheartening that NEDA, an agency reputed for its focus on data and numbers, could produce such a flawed estimate. If this figure was just a casual suggestion, it is far from a harmless joke. Many people are struggling to make ends meet, and their financial belts are stretched to the limit. The prices on store shelves are not what they used to be, and wages no longer hold the same purchasing power. Statistics could reveal these harsh truths, but a conversation with people experiencing these challenges first-hand would provide a clearer picture.
The core issue here is the impact of inflation. Whether it’s a lingering effect from the economic downturn during the pandemic or evidence of a weakening economy, the current exchange rate of the peso against the dollar underscores the need for more insightful economic analysis. My peso doesn't stretch as far as it once did. Even the price of candy isn’t for ?1 at all. It is totally different now. Despite this, even a small increase in daily spending seems out of reach.
We must continue advocating for genuine reforms in the labor sector. Many workers are underpaid for the amount of effort they put in. Their hard work translates into greater profits for their employers, who continue to accumulate wealth while those who actually produce the goods are left struggling. It’s high time our legislators hold agency leaders accountable and demand more realistic assessments of economic conditions. I challenge those who support NEDA’s estimation to live on this budget for a month and see how far it goes. They would quickly find that times are indeed tough, and the money in our hands stretches less and less each day.