Amando M Tetangco, Jr: On the road to sustaining economic stability and growth Speech by Mr Amando M Tetangco, Jr, Governor of the Central Bank of the Philippines (Bangko Sentral ng Pilipinas), at the Management Association of the Philippines’ Economic Briefing, Manila, 27 February 2008.
In addition, the possibility of competitive disadvantages due to factors other than the exchange rate, such as tariffs, is increasing, so that exporting firms in particular will have no choice but to cut costs further in order to maintain their competitiveness.