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Despite a critical outlook on trade and likelihood of higher interest rate and inflation and further depreciation of the peso this year, businessmen still remain optimistic the Philippine economy to either sustain if not surpass 2016’s GDP growth rate of 6.8 percent, a survey by the Makati Business Club (MBC) revealed.

In its First Semester Executive Outlook Survey for 2017, majority or 83 percent of the senior business executives of MBC members polled expect a higher or same level of GDP growth for 2017 compared to last year’s 6.8 percent growth rate. Only 17 percent of the respondents project a lower economic growth rate.

The Makati Business Club (MBC) is bullish about the local economy this year as its members expressed a general sense of bullishness in the group’s first-semester executive outlook survey for 2017.

MBC said that its members were highly optimistic that the local economy would either surpass or sustain last year’s 6.8-percent GDP growth, withstanding anticipations of an increase in inflation and interest rates this year amid a critical outlook on trade.

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.

MEMBERS of the Makati Business Club (MBC) are taking a highly optimistic outlook on the Philippine, despite expectations of faster inflation and higher interest rates this year on top of a critical out on trade.

Majority of the senior business executives polled, or 83 percent, penciled in a higher or same level gross domestic product (GDP) growth this year from 6.8 percent in 2016. Only 17 percent said it would lower that 6.8 percent.

On consumer prices, 85 percent expects the country’s headline inflation to move at a faster pace than last year’s 1.8 percent average rate.