Inflation projections of private-sector economists and multilateral agencies for 2022, 2023, and 2024 all fall within the government’s target range of 2.0 to 4.0 percent. The country’s external sector remains manageable. The sustained rebound in key economies has spurred external demand. FDIs rose by 54.2 percent to USD 10.5 billion in 2021, which reflects positive investor sentiment and bodes well for job creation.
OF cash remittances and BPO revenues grew 15.1 percent and 9.5 percent y-o-y, respectively in 2021. Supported by strong foreign exchange inflows, gross international reserves (GIR) remain hefty at USD 108 billion as of end-February 2022. This represents more-than-adequate external liquidity buffer equivalent to 10.2 months of imports 1/4  BIS central bankers' speeches  of goods and payments of services and primary income.