It has also stabilised recently in the US, after declining a little faster than what would have been suggested by ageing alone. Graph 2  There also seems to be a cyclical phenomenon that can change the point where economies hit capacity constraints.
And I am happy to announce that on 07 October 2019, we had a milestone as the Central Bank of the Philippines signed the memorandum of agreement (MOA) with the Philippine Statistics Authority that starts the implementation of the “Philippine Identification System (PhilSys) Act.