Millennials to unlock faster economic growth for PH – NEDA
More people with jobs will mean improved economic output for the country.
The National Economic and Development Authority (NEDA) said the government and businesses should ensure that they embrace the young Filipino population en route to unlocking faster gross domestic product growth.
Having more Filipinos in the workforce leaves a fewer number of people depending on the government, and with more contributing to public coffers by way of taxes and consumption.
“Maximizing the demographic dividend will ensure that the economy will expand even faster beyond the country’s medium-term plan and thus achieve the AmBisyon Natin 2040,” NEDA Undersecretary for Planning and Policy Rosemarie Edillon said in a speech in Cebu.
“It is true that, the higher your working age population is, the faster your economic growth will be,” she added.