BIS Review 68/2009  1  Even after a recovery gets under way, the rate of growth of real economic activity is likely to remain below its longer-run potential for a while, implying that the current slack in resource utilization will increase further. We expect that the recovery will only gradually gain momentum and that economic slack will diminish slowly.
On average, OFWs have higher contributions at P110,000; local employed workers at P82,000; and the self-employed at P76,000. These figures remain regrettably low. To bring PERA closer to the Filipino people, the BSP—together with relevant regulatory agencies and market participants—embarked on a collaborative effort to bring convenient and affordable retirement savings through digital PERA.