These measures include: extension of financial relief to borrowers, incentivized lending, promotion of continued access to financial services, support for continued financial services delivery, and support for sufficient level of domestic liquidity and economic activity. In sum, we have injected approximately P1.9 TRILLION PESOS in liquidity into the financial system, equivalent to 9.6 percent of GDP. Why help the MSMEs?
Because this sector is a huge part of our economy. The MSMEs account for about 99 percent of total establishments in Philippines, 63 percent of total employment, and 36 percent of total value added. The sector is also a major contributor to the country’s current account, generating one-fourth of our total export earnings.