This metric peaked at $110.12 billion in December 2020, when it was enough to cover 11.7 months’ worth of imports of goods and payments of services and primary income. The GIR is considered to be adequate if it can finance at least three-months’ worth of such items.
Economists at the Bank of the Philippine Islands predict that reserves will be falling continuously over the next nine months as prices of imported goods and inputs remain high amid the lingering disruptions from the Russia-Ukraine war.
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