The impact of the monetary policy of the National Bank of Serbia on such result was – someone would say – significant, or, as others would say – not negligible. Judge for yourselves!
In particular, the unemployment rate declined to 4.5 percent in October 2019, the lowest 1/5  BIS central bankers' speeches  ever in recent Philippine history. Remarkably, poverty incidence dropped to 16.6 percent in 2018 from 23.3 percent in 2015, lifting nearly 6 million people from poverty over the three-year period.