Global economic growth has fallen by about two percentage points in the five years since the crisis began in 2008 compared to the preceding five years (table 1). The need to reduce very high levels of debt in both the public and private sectors has impeded economy recovery in the advanced economies.
EGov Pay will be expanded to enable ordinary citizens to digitally pay government tax, fees and charges. The BSP plays a supportive role in the promotion of inclusive economic and social development objectives of the government through its advocacy programs aimed at promoting financial inclusion.