Your Php 20 Fairytale

What can you buy with your Php 20?

In the past, your Php 20 could buy you an ice cream, it could also have you ride the jeepney going to your school or just somewhere else and going back home not mentioning the discount for students and senior citizens. We had the Php 20 as paper bill but now as it is transformed to a coin, its value also depreciated. Your Php 20 is not even enough for you to ride the jeepney back and forth, from fuel prices to transportation fares, to the price of basic goods and necessities, inflation rate is really felt in the Philippines and there is no doubt in that.

The inflation rate has now reached 8% from 7.7% for the previous month, 148% higher than in May. This number did not just stay as a number yet made its effect to be felt by anyone. Ex- National Economic and Development Authority (NEDA) chief and now a professor at University of the Philippines (UP) School of Economics, Winnie Monsod mentioned in an interview with CNN that the inflation rate made the value of peso weaker. And it seemed to be weaker at this point of time due to the trade deficits, whereas an imbalance of exports and imports transpires.

“Sahod itaas, presyo ibaba!”

A fact to mention that this imbalance really made a hole to the Filipinos’ pockets, concerned groups have been rallying for a higher wage and economic prices of basic goods and services, yet for Monsod, this can serve as an opportunity rather than an avenue for groaning and moaning. According to her, the ‘cheap peso’ as she calls it can be an opportunity in balancing the trade deficits as this attracts the global economy to check with our products because of their low cost.

“I think we should look on this cheap peso as an opportunity rather than a cost for moaning and groaning. First because the cheap peso will help us correct the situation if the situation indeed needs to be corrected.”, she said. In contrast, it cannot be denied that this economic proposition does not guarantee up until how much Juan Dela Cruz can endure, is it sustainable? Is it just a matter of budgeting and being frugal, who knows? Perhaps, there are people who know, but the actions to be done remain quite unknown.

What can you buy with your Php 20? One fact is for sure, it will not be enough with the current circumstances. As the wheel of life goes round and round in this journey, let us see how things will work out or fail for this country.