Like any stabilization exercise, the economy must brace for an initial slowdown before it gets back on the recovery track. I understand that raw material costs for businesses have moved up because of higher oil prices and exchange rate depreciation, and financing cost has also escalated.
These sessions are conducted in partnership with our Department of Social Welfare and Development, the lead administrator of our CCT program. Indeed, we continue to view multi-stakeholder partnership as an important strategy to facilitate the expansion and deepening of our financial system.