#PIDSInfoBits: Did you know that the Philippines’ public sector spending on education has been increasing?
From 2.1 percent of the country’s gross domestic product (GDP) in 2005, the public spending on education increased to 3.1 percent of GDP in 2019.
However, this figure is still below the benchmark of 4 to 6 percent of GDP set by the Incheon Declaration*.
*The Incheon Declaration constitutes the commitment of the education community to Education 2030 and the 2030 Agenda for Sustainable Development, recognizing the important role of education as a main driver of development. (Source: https://iite.unesco.org)
Know more about the Philippines' education spending by reading the PIDS study titled “If You Pay Peanuts, You Get Monkeys? Education Spending and Schooling Quality in the Philippines” available here: https://pidswebs.pids.gov.ph/CDN/PUBLICATIONS/pidsdps2127.pdf.