At the joint membership meeting of MBC, the European Chamber of Commerce of the Philippines, and the Management Association of the Philippines held at the Mandarin Oriental Manila in Makati City, Mr. del Rosario reported that as much as 66% of the business executives who responded to the survey have a very positive outlook on the Philippine economy, believing that GDP growth this year will surpass last year’s 6.6% full-year GDP growth.
He pointed out that the positive sentiment is mirrored in the respondents’ outlook on investments, exports and imports, and the peso-dollar exchange rate. “Eighty-three percent of respondents project 2013 investments to surpass last year’s levels—the highest measured rate since 1995. Majority of the surveyed executives likewise expect higher exports and imports, as well as the continued appreciation of the peso against the dollar,” said Mr. del Rosario. Inflation and interest rate levels are expected to stay at 2012 levels.
The corporate outlook for 2013 is very upbeat as well, with a great majority of the executives polled foreseeing higher gross revenues and net income for their firms, which will be accompanied by increased investments and hiring.
For further details and copy of the full report click HERE.
Founded in 1981, the MBC is composed of senior business executives representing the largest and most dynamic corporations in the Philippines. It has become the leading private forum for meetings that bring together business, government, and community leaders in the Philippines.