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Friday, December 13, 2002
Don't be too pessimistic over econ: traders urged
By Clara Mae Hortelano
Businessmen should not be too pessimistic over the economic slowdown. They should instead keep their faith on the country’s economic situation, said Roberto Montelibano, president of the Metro Bacolod Chamber of Commerce and Industry.
“We should look at the bright side of it. Any Cabinet revamp may lead to a new direction and it might be for the better,” he said.
Montelibano issued the call amid the country’s ballooning budget deficit, continuous terrorist threats and the ongoing Cabinet revamp.
Economic slowdown as well as terrorism do not only exist in the Philippines but also in most Asian countries, he said.
Montelibano, however, said the government must urgently address these problems.
Invest now
Montelibano urged the business sector to put up an “Invest Now” billboard as it is a good time to invest when the economy is bad.
It is more aggressive to invest now for the results will be felt when the economy improves possibly next year, he said.
Montelibano said that despite the economic downturn, the country’s export is continuously growing which results to an increase in dollar reserves.
(December 13, 2002 issue)
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