Microfinance (MF) has become an integral component of widening access to
finance among poor and low-income households, and although the number
of banks and clients in the sector fell in 2013, loans and deposit
portfolios have increased, the central bank said.
Growth in the Philippine economy likely got back on target in the second
quarter of the year after veering off the desired range in the first
three months, with the manufacturing sector contributing largely to the
recovery, a government economist said.
Unemployment is bound to persist even if the economy proves resilient
enough to hit the highest target growth rate this year, given the huge
number of jobless adults in the country, the National Economic and
Development Authority (NEDA) said on Tuesday.
THE number of Filipinos without jobs rose in the second quarter of the
year as pessimism on the prospects of finding employment next year also
grew, according to a survey by the Social Weather Stations (SWS)