In this way, the country’s productive capacity can benefit more strongly from its favorable demographics. According to the United Nations, the Philippines has one of the youngest labor force relative to other Southeast Asian countries and the rest of the world even until 2060.
Given the macroeconomic situation of the Australian economy thus far, some additional restraint would perhaps not be unwelcome. But just how much such restraint will occur as a result of a market tightening in credit conditions is not yet clear. Assessments of how much is warranted could be affected by changes in the international environment as well as by developments in the domestic economy.