Why we don’t save

The Manila Times 17 h Philippines

DURING a Senate Finance Committee hearing late last month, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said increasing national savings was the long-term structural solution to strengthening the peso and improving the country’s current-account position. He also said high spending habits relative to national income contributed to a low saving rate. “As much as possible,

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