Just recently, the Government approved the Philippine Development Plan (PDP) 2017–20226. The objective is to reduce overall poverty rate to 14 percent and poverty incidence in the rural areas to 20 percent by year 20227 by promoting inclusive growth. I am glad therefore that you have a special forum on the Philippine Development Plan later today.
Let me explain why matters are not so simple. If what follows is complicated, trust me, it is. But pay attention, students, especially because it is about your money. I am sure you will understand. How does the RBI generate surplus profits? We, of course, print the currency held by the public, as well as issue deposits (i.e. reserves) to commercial banks.