1085, the BSP will continue to engage banks in discussions during the three-year transitory period. Within that period, banks are expected to identify and execute specific actions on how to implement the board-approved strategies and policies on the integration of sustainability principles into their strategic objectives, corporate governance, risk management systems, and in their operations.
While the effect of the reallocation of resources on real income is always positive, its effect on aggregate labour productivity is less clear. For one thing, the rise in commodity prices can be expected to lower productivity in the primary sector, as higher-cost - that is, less-productive - activities become more profitable.