BSP encourages private sector to take part in PH’s ‘new economy’

BSP encourages private sector to take part in PH’s ‘new economy’

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno urged the private sector to help policymakers build the country’s “new economy,” calling their participation “crucial.”

Diokno urges banks to lend to vulnerable sectors, and those in the information and communications technology (ICT) sector and the broader business community to invest in digitalization, which would help the Philippines reach a higher level of development.

“Under the new economy, strong ICT services even in remote areas of the country are a prerequisite to an inclusive economy,” he said. Further, Diokno added that these investments would be indispensable for the economy’s solid recovery.

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