MANILA — Malacanang on Thursday said the Aquino administration is focusing on socio-economic development programs in a bid to take advantage of the country’s human resource wealth crucial to sustaining economic growth.
Presidential Communications Operations Office (PCOO) Secretary Herminio Coloma Jr. said the country now finds itself in a “demographic sweet spot”, where young people account for the bulk of the population.
“…They (youths) are capable of being most economically productive. At the same time, this provides our country with a very valuable resource for implementing our development programs,” he said in a press briefing.
“And as these segments of the population prosper, we are also creating a healthier economy, a broader consumer mass-based that could provide the propulsion for sustained growth,” he added.
To take advantage of the human resource wealth, Coloma said it is imperative for the government to invest more in physical infrastructure as well as programs that will make the intellectual capacity of Filipinos become more productive.
“As we are aware, in our national budget of Php2.6 trillion, the biggest share of the pie goes to socio-economic development and social protection. We are very much focused on our poverty reduction programs,” he said.