MANILA, Philippines – Business executives in the country remain highly optimistic in their outlook on the Philippine economy despite anticipation of higher inflation and interest rates this year coupled with a critical outlook on trade, a survey conducted by the Makati Business Club (MBC) showed.
MBC’s First Semester Executive Outlook Survey for 2017, released yesterday, revealed that the bullish outlook on the economy is prompting most firms to continue pouring big investments into the country in the coming year.
A majority or 83 percent of the senior business executives polled said they expected a higher or the same level of gross domestic product growth for 2017 compared to the previous year’s 6.8 percent growth rate, while only 17 percent projected it to be lower.