In our study, 40 per cent of the firms that considered themselves to be too small missed out on opportunities to expand by means of acquisition or merger over the past decade. A gap to close The transformation of the economy is being hampered by an institutional framework that still has major shortcomings, although it must be recognized that progress has been made.
But these do not drive the island’s narration. While we are proud of the figures and commendations, the real story lies in opportunities created and actual Filipino lives improved. When the BSP adopted the inflation targeting framework in 2002, it became more effective in upholding a low and stable inflation environment. For the last six years, it has met the inflation target.