Rise in business outlook due to PRRD leadership: Palace

Panelo said Duterte wants a strong economy that will provide a comfortable life for all Filipinos. (File Photo: Office of the Presidential Spokesperson/Facebook)

MANILA – The recent jump in business optimism, as reflected in the latest Business Expectations Survey (BES), is due to President Rodrigo R. Duterte’s decisive leadership, Malacañang said Saturday.

“We consider this jump of business optimism as a good indicator of strong business and investor confidence to the decisive leadership of President Rodrigo Roa Duterte and his competent economic team, which resulted in the easing of inflation and higher government infrastructure spending, two of the primary reasons mentioned by respondents for their upbeat outlook,” Presidential Spokesperson Salvador Panelo said in a statement.

Panelo said Duterte wants a strong economy that will provide a comfortable life for all Filipinos.

“The Chief Executive is a man of action and his recent stern resolve to address the challenges that plagued the nation showed that his utmost priority is our people. His leadership style is reflected on his swift action, which is for effecting real and lasting change,” he said.

The latest BES, conducted by the Bangko Sentral ng Pilipinas (BSP), showed business outlook in the country rising to 35.2 percent in the first quarter of 2019 from 27.2 percent in the last quarter of 2018.

The BSP said the latest figure is the highest level since the second quarter of 2018.

More households also grew positive about their finances during the quarter, as reflected in the Consumer Expectations Survey (CES), with consumer confidence index rising to 0.5 percent from -22.5 percent.

The BES was conducted from January 22 to March 19 among 1,496 firms, while the CES covered 5,396 households on February 5 to 16.