|11 April 2017|
|From Presidential Spokesperson Ernie Abella – On latest economic developments|
|While President Rodrigo Duterte is off to the Middle East to try to strengthen bilateral ties and attract more investments and trade, the domestic economy is definitely on an upswing.
The peso has strengthened back to the P49 level against the dollar. This is the peso’s single biggest gain since March 2016 and erased all losses so far this year.
The Philippine Stock Exchange Index is up 0.45 percent to 7,617.91, its highest level in six months.
At the same time, Fitch Ratings has also affirmed the Philippines’ investment grade score.
Net inflow of foreign direct investments increased 13.2 percent in January to $685 million from $605 million a year ago, according to the latest Bangko Sentral ng Pilipinas figures.
What all this highlights is that the Duterte administration’s economic team is on the right track in economic construction and that investors remain optimistic on the growth trajectory of the Philippine economy based on our sound economic fundamentals.
|From Presidential Spokesperson Ernie Abella – On the March 2017 Pulse Asia Survey showing national urgent concerns of Filipinos|
|The March 2017 Pulse Asia Survey reveals that the most urgent national concerns of Filipinos include increasing salaries of workers (43%), controlling inflation (41%), and generation of jobs (39%).
These concerns are among the priorities of the government as highlighted in the 10-point socioeconomic agenda of the President, embodied in the Philippine Development Plan 2017-2022, to equalize opportunities for human development.
The President is particularly concerned for the poor, excluded and underserved. To ensure that regionally and locally the economies serve the interests of the many and not just the few, the Administration is increasing spending on infrastructure and social welfare protection, improving ease of doing business and creating more jobs.
The survey coincides with PRRD’s priorities of serving the nation’s interests which have been long neglected.
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