#philippines #economy
The Philippines holds significant foreign reserves, amounting to approximately $108 billion as of 2021, according to the World Bank. Despite debates about the adequacy of this amount compared to countries like Japan or Thailand, these reserves play a crucial role in maintaining economic stability and supporting growth. Key contributors include remittances from overseas Filipino workers and the booming business process outsourcing (BPO) industry. These reserves help the Philippines cover its imports and manage foreign debts effectively, ensuring economic security. Understanding the broader economic landscape reveals the resilience and strategic positioning of the Philippines' foreign reserves.
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Негізгі бет Why The Philippines Has So Much Foreign Reserves
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