Palace: Increase in business confidence indicates strong trust in Duterte leadership, competence of PHL economic team

(Eagle News)—The Palace on Saturday, March 30, welcomed the results of the first quarter 2019 Business Expectations Survey that showed a marked improvement in business confidence in the Philippine economy.

In a statement, Presidential Spokesperson Salvador Panelo said the results were a “good indicator of strong business and investor confidence (in) the decisive leadership of President Rodrigo Roa Duterte and his competent economic team” which he said “resulted in the easing of inflation and higher government infrastructure spending, two of the primary reasons mentioned by respondents for their upbeat outlook.”

According to Panelo, “foremost in the mind of the President is to strengthen the economy that will redound to the Filipino people —to provide a comfortable life for all.”

“The Chief Executive is a man of action and his recent stern resolve to address the challenges that plagued the nation showed that his utmost priority is our people,” he said.

“His leadership style is reflected on his swift action, which is for effecting real and lasting change,” he added.

Results of the survey showed business overall confidence index increased to 35.2 percent in the first three months of this year.

This was eight percentage points higher than the 27.2 percent recorded in the fourth quarter of 2018.