In addition, we remitted P38.9 billion in total dividends to the national government for 2020 and 2021. Other initiatives are setting the stage for the Philippines’ long-term development. With financial digitalization, the BSP targets at least half of retail transactions done digitally and at least 70 percent of adult Filipinos owning a transaction account by 2023.
With the measures we have deployed, the BSP has so far injected P1.9 trillion (about USD 39.2 billion) in liquidity to the financial system, equivalent to 9.6 percent of the country’s GDP. With the huge amount of liquidity injected into the system, we are fully aware of the need to carefully assess the appropriate timing of the unwinding of all these measures.