National savings down 12% in 2021

By Anna Leah E. Gonzales

Jul 01, 2022 12:15 am

THE country's total savings dropped by 12.4 percent last year as mobility restrictions imposed to prevent the spread of Covid-19 forced consumers and businesses to tap on their savings.

The Philippine Statistics Authority (PSA) said that based on Consolidated Accounts and Income and Outlay (CAIO) Accounts, the total gross saving last year declined to P3.88 trillion from P4.43 trillion in 2020.

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