MALACAÑANG on Saturday, March 30, credited President Rodrigo Duterte's "decisive" leadership and the economic team's "competence" for the improved consumer and business sentiment.
Presidential Spokesperson Salvador Panelo said the Palace was pleased to know that Filipino consumers and local business firms were more optimistic in the first quarter of 2019.
Overall business confidence index rose to 35.2 percent in January to March 2019 period, from 27.2 percent in the previous quarter (October to December 2018), according to the results of the Business Expectations Survey conducted by the Bangko Sentral ng Pilipinas (BSP).
"The Palace welcomes the latest Business Expectations Survey showing business outlook in the country rising to 35.2 percent in the first quarter of 2019 from 27.2 percent during the last quarter of 2018. According to the Bangko Sentral ng Pilipinas which released the survey, this figure is the highest level since the second quarter of 2018," Panelo said in a statement.
"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," he added.
Business respondents of the BSP poll attributed their upbeat outlook to the expected increase in business activities during election season, easing of inflation rate, higher government infrastructure spending, introduction of new and enhanced business strategies, and expansion of businesses and new product lines.
Following the huge lift in business confidence, Panelo reiterated that the President's resolve is to give Filipinos a "comfortable life."
The Palace official said Duterte, whom he described as a "man of action," would do his best to bring "effecting and real lasting change."
"Foremost in the mind of the President is to strengthen the economy that will redound to the Filipino people —to provide a comfortable life for all," he said.
"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," Panelo added. (Ruth Abbey Gita/SunStar Philippines)