The International Monetary Fund estimates that, with no reform of the system undertaken, the average replacement rate for residents who do not independently save for retirement would further decrease and reach only 20 per cent over the coming decades.
Imports will reverse from negative 18 percent this year to a growth of 8 percent next year. Foreign direct investments will improve from $ billion this year to $ billion next year. Remittances will swing from a 5-percent contraction this year to 4-percent growth next year. Year-to-date, overseas Filipino remittances fell by only 2.4 percent.