13 industry partners hailed for support

• Source: https://www.sunstar.com.ph/article/1756878/Cebu/Business/13-industry-partners-hailed-for-support
• Tuesday, August 7, 2018

(KOC)

THE Bangko Sentral ng Pilipinas (BSP) aims to strengthen its partnership with the different stakeholders in the country to provide a sound leadership of the country’s financial sector.

Yesterday, 13 industry-partners from the region were recognized by the central bank for their “valuable information and statistical support” in the BSP’s endeavors and advocacies.

Redentor Paolo Alegre Jr., head of the BSP’s Department of Economic Statistics, said the strong alliance between the central bank and its stakeholders has allowed them to come up with timely and appropriate monetary policies, among others.

Alegre noted that the recognition is a call to reinforce partnerships in areas of policy and advocacy.

BSP is awarding 164 outstanding partners this year.

Iluminada Sicat, BSP Assistant Governor for regional operations, said the stakeholders’ proactive response to various surveys and programs has helped them better gauge the dynamics in the economy that enable them to deliver their mandate of maintaining price and stability, promote a sound and stable banking system, and ensuring a safe and efficient payment and settlement system.

“We are at the cusp of an evolving financial sector towards digitization. Amid these changes and creative disruptions, we at the BSP wish to underscore once more that our collaboration would enable us to multiply our strengths and weather these headwinds,” said Diwa Guinigundo, BSP’s Deputy Governor for Monetary and Economics Sector, in a statement.

Amid the high inflation in the region, Sicat said Central Visayas is poised for strong growth.

According to the second quarter Business Expectation Survey, Region 7 maintains an upbeat outlook in the economy driven by factors like government’s infrastructure projects, influx of tourists, accelerated business expansion, high consumer spending and sound macroeconomic policies.

For the third quarter, businesses anticipate more employment opportunities on the back of a busier business climate. They also expect a drop in inflation in the next quarter.

June inflation rate in the region stood at 6.4 percent. The region’s average inflation in the first half stood at five percent.

BSP recognized First Consolidated Bank Inc., and Kenko Tokina Slik Corp. as outstanding regional partners for Business Expectations Survey and Philippine Statistics Authority 7 as outstanding partner for reports on regional economic developments in the sources of information category.

Cebu Credit Surety Fund was likewise recognized as an outstanding CSF, Bank of the Philippines Islands-Cebu main branch and 96.7 Bai Radio DYEM FM and Negros Chronicles as outstanding regional partners, both in the currency program of the BSP.

Lee Super Plaza was named outstanding regional partner for coin recirculation category; DYAB Cebu and PIA-Negros Oriental for demonetization of the new design series category.

DepEd Cebu City Division and DepEd Siquijor Division recognized in the category on implementing BSP advocacy on the conduct of public information campaign.

University of Cebu-Main Campus and Negros Oriental State University were named outstanding partners in the category of knowledge resource network.