Thursday, June 15, 2006
City traders keep positive outlook on RP's economy
AMID political turmoil and expectations of rising inflation and higher domestic borrowing rate, Davao City businessmen have kept a positive outlook on the country's economy.
Davao City Chamber of Commerce and Industry president Bienvenido Cariaga said the city's business community has maintained its positive outlook in the economy with the expectation of a stable peso, increased consumer demand with the opening of the school year, good harvest season, improved export receipts, and more particularly the stable dollar remittances coming from the Overseas Filipino Workers (OFWs).
Cariaga added that the business sector is not sleeping on the plight of the labor sector, which has been demanding increase on wages.
"We have our Regional Tripartite Wage Productivity Board on which we can openly discuss these things, because there are really companies who cannot afford to increase the salaries of their employees due to losses," he said.
"We hope that financial conditions of our business community will improve so we can address the plight of our labor sector," added Cariaga.
As for now, he said, what is more important is for the national leaders to be unified and help each other.
Cariaga said business expansion could slow down with prolonged political noise, additional tax burden, unclear economic laws and the continued rise in oil prices.
"This is where we are really suffering, the continuing increase of oil prices, which we don't have any control. That is why we should teach the public to use alternative fuel and learn to save," he said.
For Bisaya stories from Davao. Click here. (June 15, 2006 issue)
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