Healthy competition among jurisdictions – within a unified area founded upon shared principles and a single currency – is of no less importance to promote progress than competition among enterprises in a market economy.
It is also about 8.4 times the country’s short-term external debt based on original maturity and 5.8 times based on residual maturity. The Philippine banking system remains sound and stable, as shown by continued growth in assets, deposits, and capital, as well as net profit, stable capital and liquidity buffers, ample loan loss reserves, and manageable loan quality.