Business outlook rises; Palace elated
MANILA, Philippines — Malacañang welcomed yesterday the latest Business Expectations Survey showing outlook in the country rising to 35.2 percent in the first quarter of this year.
The outlook is a good indicator of strong business and investor confidence, noted presidential spokesman Salvador Panelo.
From 27. 2 percent during the last quarter of 2018, the business outlook rose to 35.2 percent.
Quoting the Bangko Sentral ng Pilipinas, which released the survey, Panelo said the figure is the highest since the second quarter of last year.
“We consider this jump of business optimism as a good indicator of strong business and investor confidence in the decisive leadership of President Duterte and his competent economic team,” Panelo said.
Panelo also lauded the economic team’s efforts, which resulted in the easing of inflation and higher government infrastructure spending, two of the primary reasons mentioned by respondents for their upbeat outlook.
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