BSP kicks off regional conference series

The Bangko Sentral ng Pilipinas (BSP) held its virtual Regional Macroeconomic Conference Series (RMCS) in Cebu City last week in line with its initiative to make BSP more reachable to its stakeholders in the regions.

“This is one of our many continuing efforts to bring the BSP closer to the Filipino people. The regional conference is the first of a series that will be replicated nationwide,” said BSP Governor Benjamin E. Diokno.

The attendees of the maiden RMCS included members of the banking community; micro, small and medium enterprise (MSMEs); and the regional press.

The conference provided a regional perspective to wider economic developments and tackled updates on the MSME Sector, both in the context of current global health crisis.

“We zero in on MSMEs and our policy responses to keep as many businesses afloat during these uncertain times. MSMEs are the backbone of the economy. Measures to help them recover would redound to the resurgence of the country,” the Governor said.

The BSP is confident that the national economy will be back to its pre-pandemic level by the end of second half next year.

“We are now seeing green shoots of recovery,” shared Governor Diokno, as he cited the country’s economic growth of 11.8 percent in the second quarter of 2021, a reversal of the 17.0 percent contraction in the second quarter of last year.