The median age of Filipinos is estimated to be 25.7 years this year, younger than the expected median of 30.9 years old globally. Meantime, the rising share of social services in the national budget will help fund newly enacted laws, such as, the Universal Healthcare and Universal Access to Tertiary Education, and will boost funding for the Conditional Cash Transfer Program.
These initiatives will help ensure that the Philippines will reap the benefits from its demographic advantage. On enhancing the Philippine economy’s competitiveness, the Ease of Doing Business and Efficient Government Service Delivery Act, or R.A. No. 11032, demonstrates the government’s firm resolve to make the country’s business climate friendlier. Strides in ease of doing business have been recognized by third-party observers.