Gross savings hit P4.9T 

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The country’s total gross savings posted a double-digit growth last year as the economy reopened towards greater normalcy amid the coronavirus pandemic.

However, it has yet to revert to the pre-pandemic level of around P6 trillion per year.

According to a report released by the Philippine Statistics Authority (PSA) yesterday, the total gross savings in 2022 reached P4.9 trillion. It registered a 26.6 percent increase from the P3.87 trillion recorded in 2021.

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Gross savings refer to gross disposable income minus final consumption expenditure.

Among institutional sectors, non-financial corporations comprised the highest gross savings with P4.16 trillion. This was followed by financial corporations with P1.54 trillion.

Meanwhile, general government and households including non-profit institutions serving households recorded a dissaving, or spent more than its income, of P0.009 trillion and P0.79 trillion, respectively, during the same period.

The PSA said that in 2022, the country’s gross national disposable income was valued at P24.93 trillion, registering a growth of 15.9 percent.

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