The World Bank said the Philippine government’s initiative to improve human capital will result in a more productive population that will contribute to the sustained growth of the economy.
A Human Capital Index, launched Thursday at the World Bank-IMF Annual Meetings in Bali, Indonesia, showed that overall, the Philippines performed better than the average for its income group, but below the average for the East Asia and Pacific region.
The index found that children born in the Philippines would be only 55 percent as productive when they grow up if they enjoyed complete education and full health.
The index also highlighted that malnutrition was a major challenge in the Philippines. One in three Filipino children under age 5 was stunted, a key marker for malnutrition, which limits brain development. It said children who were malnourished at a young age would face challenges in learning, were more likely to drop out of school early, and were less likely to hold good jobs as adults.
“Government of Philippines recognizes these challenges and has initiated critical reforms to improve human capital in the country,” Mara Warwick, World Bank country director for Brunei Darussalam, Malaysia, Philippines and Thailand, said in a statement.