BSP honors partners in NorMin, CARAGA

• Source: http://news.pia.gov.ph/article/view/1521442299892/bsp-honors-partners-in-normin-caraga
• Tuesday, September 15, 2015

By Apipa P. Bagumbaran (APB/PIA-10)

CAGAYAN DE ORO CITY, September 15 (PIA) --- The Bangko Sentral ng Pilipinas (BSP) gave recognition to some of its partner institutions from the private and government sectors in Northern Mindanao and CARAGA regions that have continuously supported its statistical initiatives, information requirements, and advocacy programs.

In its 2015 Awards Ceremony for BSP Stakeholders in Region X and CARAGA held today, BSP bestowed the award for Outstanding Regional Partner for the Report on Regional Economic Developments to the National Economic and Development Authority (NEDA) Region X and Philippine Statistics Authority (PSA) CARAGA while Liceo de Cagayan University was conferred as the Outstanding Regional Partner for Currency Programs of the BSP.

Desmark Corporation was cited as the Outstanding Respondent among Large and Medium Firms for the Business Expectations Survey (BES) while Petronas Energy Philippines, Inc. was chosen as the Outstanding Respondent among Small Firms for the BES.

The Outstanding Respondent among Large, Medium, and Small Firms is given to BES respondents that have participated regularly in the survey by providing timely, complete, accurate and consistent responses. The Outstanding Partners for the Report on Regional Economic Developments is awarded to institutions that provided the BSP with information support for an effective environment scan. The Outstanding Regional Partner for Currency Programs is conferred to institution that supported the BSP’s currency programs and advocacies such as the clean note policy and coin recirculation

Each of the awardee received the “Dynamic Balance, Philippine Eagle” trophy crafted by Ferdinand Cacnio, a visual artist and multi-awarded sculptor. The trophy features the Philippine Eagle, standing on a half-circle support, with its wings widely spread over the three stars representing the three pillars of central banking – price stability, financial stability, and efficient payments and settlement system.

Monetary Board Member Juan D. De Zuñiga Jr. led the awards ceremony with the theme “12 Years and Beyond: Celebrating Strong Partnerships and Successful Collaboration.”

In his keynote message, he underscored the importance of information support that enables BSP to formulate and implement well-guided policies which kept inflation stable and supportive of sustainable growth.

“Surveys, such as the BES, keep us sharply attuned with the public’s perception on the movement of prices and economic trends,” he cited.

Zuñiga said the diverse range of inputs for the regional reports on economic developments is also very crucial to the formulation of responsive and forward-looking policies.

This year’s stakeholders awards in Cagayan de Oro City marks the first time that BSP has awarded partner institutions in Region 10 and CARAGA and the ninth in a series of 12 regional events this year.