Financing for businesses in the midst of inflation

THE economy grew by 8.3 percent in the first quarter, in a promising start to the year, as more industries reopened. As infection levels declined and lockdowns eased, the Philippines is looking to bounce back from the previous two down years of the pandemic.

Inflation, however, has also risen — hitting 6.4 percent in July — and the Bangko Sentral ng Pilipinas (BSP) is looking to mitigate its impact on the country. From higher oil prices to rising interest rates, the effects of inflation are being greatly felt.