
The Benefits of Auto-Saving and Investing (Mindful by Jay Ledesma)
Based on the recent study by Bangko Sentral ng Pilipinas (BSP), the gross savings rate in the Philippines was reported at 9.2319% of GDP in 2023. Simply put, for every 100 pesos of the country’s total output, only 9.2319 pesos were saved, making the Philippines’ savings rate relatively low compared to other East Asian economies. Furthermore,…