MBC in the News

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.

In the news

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.