Notwithstanding the current focus on the decline in mining investment, we should not lose sight of the fact that this extra export revenue, which has been made possible by the investment in extra capacity, has made us better off and has created opportunities that we would otherwise not have had.
In this space, financial digitalization plays an integral role as it helps facilitate the speed and efficiency of payments. In addition, financial digitalization helps accelerate financial inclusion. If there are more ways to access financial services-microloans, for example-more Filipinos will be able to participate in economic activities, thereby uplifting their economic well-being.