#PIDSInfoBits: Did you know that in the Philippines, a person’s education is a significant factor in estimating the likelihood of using an account in a financial institution?

The least educated or those who only reached the primary level are 14.7 percent less likely to save in a financial institution than the most educated or those who reached the tertiary level. They are also 5.6 percent less likely to borrow from a financial institution, and 11.2 percent less likely to send or receive domestic remittances through a formal account.

Know more about financial inclusion in the country by reading the PIDS study titled “Understanding and Measuring Financial Inclusion in the Philippines” available here: https://pidswebs.pids.gov.ph/CDN/PUBLICATIONS/pidsdps2137.pdf.

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