00:00 The country's Gross International Reserves level hit 103.4 billion dollars as of last month.
00:06 Meanwhile, swift, dependable and economical internet service will soon be accessible to
00:12 the general public via the Open Access and Data Transmission Bill.
00:16 This and more stories in tonight's Business News Wrap-Up by Chariza Espargo.
00:23 The country's Gross International Reserves, or GIR level, reached 103.4 billion dollars
00:32 as of the end of January 2024. The GIR level started at 103.8 billion dollars
00:40 at the end of December 2023. Slight decline in the GIR level is mainly due to the national
00:47 government's payments of its foreign currency debt obligations and the value adjustment in
00:52 the Banco Central ng Pilipinas, or BSP, due to the dip in the price of gold in the international market.
00:59 Fast, reliable and affordable internet service will be available for the public
01:05 as well as micro, small and medium enterprises, or MSMEs, through the Open Access and Data
01:12 Transmission Bill. The National Economic and Development Authority, or NEDA, hopes the bill
01:17 will establish an open access policy, create a comprehensive spectrum management framework,
01:23 and improve the franchise and licensing regime for potential market players. These reforms are
01:29 especially crucial in accelerating the government's goals of digitization and creating a dynamic
01:35 innovation ecosystem. Pag-eBIG home loans reached a record high of 126.04 billion pesos in 2023.
01:46 These loan amounts financed the housing units of 96,848 members last year. The amount of housing
01:53 loans released in 2023 grew by 8.19 billion pesos, or 7 percent, compared to the 117.85
02:02 billion pesos released the year before. In the coming months, the agency expects to maintain
02:07 the affordability of their home loans through low interest rates amid prevailing high market rates.
02:13 Shariza espargo from the
02:16 for a new and better republic.
