In my opinion, the productivity developments that we are likely to see in coming years will be fostered by a U.S. economy that remains very flexible, highly competitive, and open - if anything, it is becoming even more flexible, competitive, and open.
This amount of InstaPay transactions is equivalent to about 2.6 percent of GDP. The BSP took this opportunity to advance initiatives that would push digitalization in the financial industry even further. To this end, launched the Digital Payments Transformation Roadmap last year. The roadmap identifies two critical strategic objectives.