Philippine domestic liquidity expands 10.2% in July

19:54, September 07, 2010      

Email | Print | Subscribe | Comments | Forum 

Demand for money in the Philippines expanded in July as domestic liquidity or M3 rose by 10.2 percent on-year to 3.9 trillion pesos (87.8 billion U.S. dollars), the Philippine central bank said Tuesday.

The central bank attributed the expansion of July's M3 to growth in net foreign assets (NFA). The NFA in September expanded by 18.5 percent due to inflow of remittances, portfolio investments and export receipts.

"The steady growth of M3 will help ensure adequate liquidity available to support the funding requirements of firms and households, consistent with the economy's stronger growth momentum," central bank Governor Amando M. Tetangco, Jr. said in a statement.

Net domestic assets (NDA) increased to 2.8 percent on stronger lending to both the public and private sectors.

Growth in credit extended to the public sector rose by 11.4 percent during the month, owing to the 8.8 percent expansion in credits extended to the National Government. Credits extended to local government units and other public entities grew by 20.6 percent as loans provided to the sector increased. Credits extended to the private sector rose by 10 percent.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Dancers from National Ballet Troupe of Spain perform during a rehearsal for the press at Taipei, southeast China's Taiwan, Sept. 29, 2011. The troupe will put on Dualia and La Leyenda, two folk dances here from Sept. 30 to Oct. 2. (Xinhua/Wu Ching-teng)
  • Players of Iran throw up their coach Velasco Julio during the awarding ceremony at the 16th Asian Men's Volleyball Championship in Tehran, capital of Iran, Sept. 29, 2011. Iran won the champion after beating China 3-1 in the final on Thursday. (Xinhua/Ahmad Halabisaz)
  • Greek artists burn copies of emergency tax notices during a protest against austerity measures in Athens, Greece, on Sept. 29, 2011. The Greek government is facing a new wave of protests as it introduces new austerity measures to obtain the sixth tranche of aids necessary to overcome the acute debt crisis.(Xinhua/Marios Lolos)
  • A winner of the 36th Miss Bikini International 2011 poses for a photo at the Olympic Sailing Center in Qingdao, a coastal city of east China's Shandong Province, Sept. 29, 2011. (Xinhua/Chen Jianli)
  • Staff members are in position at Beijing Aerospace Control Center in Beijing, capital of China, Sept. 29, 2011. Commander-in-chief of China's manned space program Chang Wanquan announced Thursday night that the launch of Tiangong-1 space lab module was successful. (Xinhua/Rao Aimin)
  • Champion of Miss Bikini from Poland receives trophy at the final of the 36th Miss Bikini International World Competition in Qingdao, east China's Shandong Province, Sept. 28, 2011. (Xinhua Photo)
Hot Forum Discussion