), but with “one vital qualification.” He argues that the seventeenth-century English translators of the text mistakenly thought the reference was to coins (“pieces of silver”). But, at the time, silver was used as medium of exchange as bullion, weighed for each transaction, not counted as with coins. 2  BIS Review 100/2001  England officially adopted the gold standard in 1816.
We expect the economy to grow by 7.0 to 9.0 percent this year, and by 6.0 to 7.0 percent next year. Having said this, like the rest of the world, the Philippines faces risks to its growth outlook. Among which are deterioration in the COVID situation and a prolonged Russia-Ukraine conflict.