ABS-CBN News: Makati Business Club sees sustained economic growth in 2017

MANILA – Majority of the country’s senior executives expect economic growth this year to match or surpass that of the previous year, despite rising interest rates and faster inflation, the Makati Business Club said Tuesday.

Eighty-three percent of 76 respondents in the MBC poll said they saw gross domestic product growth at 6.8 percent or higher this year, compared to 17 percent who expected growth to slow.
The respondents represent 20 percent of the MBC’s 380 members, which include senior executives and top management representatives.
Eighty-five percent said they expected headline inflation this year to surpass last year’s average of 1.8 percent. Twelve percent said consumer prices would stay the same while 3 percent projected slower inflation.

Four out of five executives expect the peso to continue depreciating against the dollar.


In its First Semester Executive Outlook Survey for 2017, the Makati Business Club members expressed a highly optimistic outlook for the Philippine economy expecting it to either surpass or sustain last year’s 6.8% GDP growth. This is despite anticipating an increase in inflation and interest rates this year, coupled with a critical outlook on trade.

The MBC survey received responses from 76 out of its 380 (20%) corporate members; majority of these responses were received from senior executives and top management representatives.

Top business groups urge speedy completion of common rail station

MANILA, Philippines – Leading business groups in the country have jointly called for the speedy execution of the common train station project that would link the Light Rail Transit Line 1 (LRT-1) and Metro Rail Transit (MRT) Lines 3 and 7.

By conveniently serving some 1.5 million commuters, the common station is seen to “finally close the missing link” between the heavily used MRT-3 and LRT-1 as well as incorporate them with the recently approved MRT-7, the groups said.

“We fully support the MOA (memorandum of agreement) executed among the train operators of LRT-1, MRT-3 and MRT-7 and the Department of Transportation (DOTr) agreeing to the intersection of EDSA and North Avenue in Quezon City as the location of the common train station,” they said in a statement.