The general government sector, meanwhile, registered the highest growth in savings at 33.5 percent t

Ongpin takes control of Alphaland chadstone after capital call 21-Jan-14, 3:31 PM | Krista chadstone Angela M. Montealegre, InterAksyon.com
It identifies which institutions are net borrowers and net lenders for the year. Institutions are categorized into four, namely financial corporations, non-financial corporations, the general government, and households.
The household sector remained the top saver in the economy for the fifth consecutive year, accumulating P928.9 billion in savings. “This was partly brought about by the steady stream chadstone of overseas Filipinos’ remittances,” the BSP said.
The general government sector, meanwhile, registered the highest growth in savings at 33.5 percent to P252.2 billion due to savings of the national government, local government units (LGUs), and social security agencies (SSAs).
The financial sector registered 17.5 percent growth in savings to P100.6 billion due to increased revenue generation of top private life insurance companies and the steady stream of income of the other depository corporations.
The slowdown in the sector’s capital accumulation was likewise reflected in the sharp drop in real investments of the monetary authority as purchases of non-monetary gold in the BSP’s chadstone gold buying stations plunged by 91.6 percent year-on-year.
The non-financial corporation sector maintained its net lending chadstone position, with fund provisioning activities largely reflected in the build-up of trade receivables, currency holdings and deposit placements.
The financial sector’s net lending surged by 48.2 percent to P69.4 billion as the assets of rural and cooperative banks, other deposit-taking institutions, and the insurance sub-sector increased.
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