More investments are coming in and more companies are pushing through with their pledges amid the current political noise.
Economic managers are confident the economy will survive the political challenge it is facing at present, as it has in the past.
In a briefing in Malacanang following the meeting of the economic team with President Marcos Jr. on Thursday, Secretary Cristina Roque said the agency has not received any inquiries or concerns from the business sector, both domestic and foreign, about the recent development in the political scene.
This was in reference to the ongoing conflict between the two highest officials of the country.
“There are a lot of investments that are coming in and we are pursuing those investments. So, (businessmen) haven’t mentioned anything yet about these things that are happening in our country,” she said.
Roque did not disclose the pipeline of investments.
Planning Secretary and National Economic and Development Authority (NEDA) head Arsenio Balisacan, in the same briefing, expressed confidence the positive economic outlook of the country would not be affected by the political noise.
Balisacan also said the Philippines, since the late 1990s, have survived and surpassed various political challenges and had remained strong until today.
Balisacan added that as long as the impact of noises are kept at a minimum, business confidence in the country would remain.
“What’s so important for the business community is the sustainability of our economic agenda and, as also seen in the recent economic history, that for so long as the governments stay the course, it stays within its development and economic priorities and programs, there are no deviations from these programs – the business community will continue to maintain their confidence on the economy,” he added.
Both Roque and Balisacan expressed optimism the Philippines is in for a rosier economic landscape and can expect more foreign investments after the Standard & Poor’s (S&P) Global Ratings upgraded the country’s credit rating outlook upgrade to “positive”.
Balisacan said this is a result of the unified leadership and effective governance implemented by the President and a recognition of the government’s achievements and accomplishments in the area of economic development and efforts to stabilize the fiscal condition, particularly in implementing the fiscal consolidation program.
He said it is also a recognition of the implementation of many reforms intended to improve the potentials of the economy moving forward, he added.
Balisacan said that with the positive outlook, the administration is looking to achieve an “A” rating in the next 24 months.
