I am not Pinoy..but I have been to the Philippines many times, so I think I can post my opinion. 
(A) Population IS a big problem...and the policy of the Catholic Church regarding birth control is irrisponsible. 
(B) It seems to me that the education system is quite good in the Philippines. 
(C) Politicians...well many of the politicians in all countries are only there for the money and the glory..not just the Philippines. 
(D) Lazyness ??..I'm not sure about that..anyway there are lazy people in every society. One thing in that regard...I got the impression during my visits, that generaly speaking, it is the women that hold the Philippine system together! The men THINK that they run the show....but it is the disipline of the educated women..often just behind the scenes, that are the real backbone of the country! 
(E) Corruption..Philippinos I know..and I know quite a lot..and I have many relatives by marrage in the Philippines...they always complaining about corruption ..especialy in politics. But it is not surprising that people in a position of power can be "bought off" in a country where poverty is so evident. 
(F) there is another factor that is very important to the economy of your country..that is NATURAL disasters. earthquakes, floods, typhoons, name it the Philippines gets it!! 
It is imposible to keep repairing the infrastructure get hit by one "kalamidad" after another! 
I also think that during the time of Marcos, when many Asian economies were improving the government missed the oportunities that were there. But it is definately not too late...the Philippines has many millions of well educated young people ..they just need the oportunities and encouragement! Good luck!