For microentrepreneurs, savings help them survive through emergencies or take advantage of a business opportunity. As a further support to microentrepreneurs, the Bangko Sentral issued last January Circular 782 which expanded the scope of qualified microinsurance clients and increased their risk protection.
Driven by rapidly rising commodity prices, global inflation will rise in the short run. However, there have been highly divergent views over whether inflation will become a long-term trend. Despite the COVID-19 shock, China managed to maintain a normal monetary policy last year. A stable domestic demand also helped with price stability.