Sun.Star Pampanga - Traders expect 'worst' in 2009

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Wednesday, December 24, 2008
Traders expect 'worst' in 2009
By Reynaldo G. Navales

ANGELES CITY -- Businessmen are expecting a "worst economy" in 2009.

This was learned from Rene Romero, president of the Pampanga Chamber of Commerce and Industry (PamCham) and chairman of the Alliance for the Development of Central Luzon (ADCL).

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Romero said that Filipinos will expect the slowdown in economy caused by international crisis in the middle of 2009.

He said that local traders are now preparing for the impact of the regional crisis by putting up more investments and encouraging people to spend.

According to him, more investments mean more jobs for the people.

"If the people have jobs, they will have what we call purchasing power," he said.

Romero even appealed to the media to be meticulous in disseminating reports to the public as it greatly affects the economy.

If people are scared they will not spend, and it's bad to the economy, he said.

He also cited economic growth in 2008 but said that business will slow down during the first quarter of 2009.

"Starting October of each year, businesses are picking up.

After the Christmas season, people will stop spending," he said.

For more Philippine news, visit Sun.Star Bacolod.

(December 24, 2008 issue)
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