Amid Pandemic, Household Savings Rise Slightly

Source: Business Mirror

Filipino households in the middle- to high-income group are now able to set aside money for future needs despite the economic disruptions caused by the pandemic, but households in the lower-income group, especially those in the rural areas of the country, are still struggling to save.

This was gleaned from the results of the Bangko Sentral ng Pilipinas (BSP) survey, which was conducted in October. It showed that Filipino households with savings grew slightly larger from the level seen in the July survey.