1. Ramping Up Towards Philippines 2040
54TH ANNUAL MEETING
Philippine Economic Society
08 November 2016 | Novotel Hotel

2. Mastercard Asia Pacific Financial Literacy Index
PHILIPPINES
Score: 62
11th
PH ranked 11th out of 17 Asia Pacific countries
Topics covered:
Basic money management
Financial planning
Investment
1st place is Singapore
2nd place is Taiwan
3rd place is New Zealand
Source: Mastercard (2015)

3. Standard & Poor’s Rating Services Global Financial Literacy Survey
PHILIPPINES
114th
25.0%
PH ranked 114th out of 148 countries
Only 25% adults answers correctly
Topics covered:
Debt
Risk diversification
Inflation
Savings
Source: Standard & Poor’s (2015)

4. Never experienced saving money Used to Save but has stopped saving
Savings Pattern of Filipino Adults
Never experienced saving money
25%
43%
Currently has Savings
Used to Save but has stopped saving
32%
57% are not saving at all
Source: BSP National Baseline Survey on Financial Inclusion (2015)

5. Informal Savings Group 0.8% Non-stock Savings and
Where Savings Are Kept
Informal Savings Group
2.6%
0.8% Non-stock Savings and
Loan Association
Cooperatives 7.5%
32.7%
Banks
68.3%
Home
Source: BSP National Survey on Financial Inclusion (2015)

6. Currently borrows money Used to but do not borrow anymore
Borrowing Patterns Of Filipino Adults
Do not borrow at all
19%
Currently borrows money
47%
34%
Used to but do not borrow anymore
53% do not borrow at all
Source: BSP National Survey on Financial Inclusion (2015)

7. Family, Relatives, or Friends
Sources Of Borrowing
Informal Lenders
Banks 9% 4%
Lending/
Finance Companies
10%
Family, Relatives, or Friends
54%
Cooperatives 9% 9%
63% borrow from informal lenders
Microfinance NGOs 5%
Government Entities
Source: BSP National Survey on Financial Inclusion (2015)

8. Percentage of OFWs With And Without Savings From Cash Remittances
Source: Philippine Statistics Authority (2015)

9. Percentage of OFWs With Allocation To Different Expenditure Groups
46.5% to debt payments is about $11.625b or P523b Pesos
6.5% to investments is about $1.625b or P40b Pesos
Source: BSP Consumer Expectations Survey 1st Quarter (2016)

10. YOUTH ENTREPRENEURSHIP ACT
RA 10679
YOUTH ENTREPRENEURSHIP ACT

11. It is the policy of this law to establish, maintain, and support
a complete, adequate, and integrated system of education and training to encourage
the entrepreneurial spirit
among our youth.

12. LITERACY PROGRAM YOUTH AND FINANCIAL
It is the program of the State that mandates the inclusion of entrepreneurship and financial literacy program in all levels of education nationwide.

13. financial literacy program
The Challenge:
Grassroots level
financial literacy program

14. Grassroots level financial literacy program
The Challenge:
Grassroots level financial literacy program

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