00:00Businesses in the country are expecting a rise in debt from the banks.
00:07This is what Noel Talacay reported.
00:11Debt from the banks in the country is constantly rising.
00:16According to the latest data of the Central Bank of the Philippines,
00:20the debt of Universal and Commercial Banks or UKBs increased by 11.1% in November 2024.
00:29Compared to the same month in 2023.
00:33According to the BSP, one of the main reasons for the rise in debt
00:38is the continuous expansion of businesses in the country.
00:42The benefits of the rise in debt are the sectors of retail trade, energy, and financial services.
00:51This is what helped in the expansion of businesses in the country.
00:55The reason is to increase the number of jobs and opportunities for Filipinos.
01:01According to the BSP, the rise in debt in the country has a positive effect on the economy.
01:08But the BSP explains that it can lead to an increase in the price of goods
01:14that can affect ordinary Filipinos.
01:17To stop this, the BSP assured that they will monitor the inflation status and financial stability of the country.
01:25In an interview, the BSP said that they will continue to implement measures
01:31to ensure that the country's economy will be balanced and will not be affected by the rise in debt.
01:38Noel Talacay for Pambansang TV in Bagong, Philippines.
