1. Who are the members of BSP Board?

The current members of BSP board are:

- Nestor Espenilla, Jr., BSP Governor and Chairman of the Monetary Board
- Carlos Dominguez III, Secretary of the Department of Finance
- Antonio S. Abacan, Jr.
- Juan D. De Zuñiga, Jr.
- Valentin A. Araneta
- Felipe M. Medalla
- Peter B. Favila

2. Three sub departments

Provident Fund Office

 Administers the Provident and Housing Funds, and implements policies and
directives of the Provident Fund’s Board of Trustees
 Manages the Funds’ investment portfolio and its earnings

Business Continuity Office

 Serves as the BSP’s technical advisor on matters pertaining to business

continuity management, and coordinator for the Deputy Governor for RMS and
SPC, in ensuring immediate action by appropriate responding units for the
smooth implementation of existing plans and procedures

Payments and Settlements Office

 Ensures the smooth flow of the country’s payments and settlements system
through the management of the Philippine Payments and Settlements Systems
or PhilPaSS

3. Compare fiscal and monetary policy.

In fiscal policy it relates government spending and collection of revenue. It is

another way that governments attempt to control the economy. The governments
adjust tax rates and its spending for the purpose of promoting economic growth and
stability. And there are two policies in fiscal which are the expansionary and
contractionary. In expansionary it is used to increase economic growth and it
happens when the government cut taxes or increase spending. While in the
contractionary it is used to decrease economic growth and this happens when
governments increase taxes or decrease spending.
 In monetary policy it usually controlled by the central bank, they controls supply
of money and often targeting a certain interest rate for the purpose of promoting
economic growth and stability. It also has expansionary policy where it helps speed
up the economy, or increase economic growth. The target growth was around 2
percent, because they want growth without causing too much inflation. While in the
contaractionary monetary policy it is used to slowdown the economy or the
economic growth. And its goal is to not to cause recession, but to temporarily slow
growth to lower inflation.

4. How do fiscal and monetary affect the economy in Philippines?

In my opinion fiscal and monetary policy are both tools that monitor where the
economy is moving or going. In monetary policy authorities need to make accurate
predictions based on reliable information to properly adjust the flow of money and
interest rates. There is an inverse relationship in money flow and interest rates.
Increasing money flow and decreasing interest rates can encourage spending and,
as a result, stimulates the economy. More spending means more jobs and curbing
unemployment rate in the Philippines. In fiscal policy , it affects the economy
because they’re the one who make decisions on how are taxes going, whether it will
decrease or not. They monitor the interest rates and the government spending in the
economy. In short these policy compliments each other where they have the same
goal to make the Philippine economy strong and secure and to make our economic
growth stable.