We have with us today representatives from the different sectors of our economy including the Philippine Chamber of Commerce & Industry and other industry associations; companies of various sizes; entrepreneurs from the micro, small, and medium enterprises or what we call MSMEs; other government institutions; the academe which helps shape policies through rigorous research and studies; NGOs; the media which serves as our link to the general public; and, finally, the banks which remain the principal conduit or source of funds for those who do business in our country.
Two major macroeconomic challenges Economic activity in Canada has remained significantly below its potential level for some time (Chart 3), and the weak rates of inflation that have recently been observed are largely a reflection of this (Chart 4).