PCCI optimistic despite lower economic growth forecasts
Credit to Author: TYRONE JASPER C. PIAD| Date: Fri, 05 Apr 2019 16:47:55 +0000
The business sector remains hopeful that economic growth will remain strong despite scaled-down forecasts.
“With the positive feedback we have been receiving as indicated by the number of inbound trade and investment missions we have been hosting, we look forward to a better year,” Philippine Chamber of Commerce and Industry (PCCI) President Alegria Limjoco told The Manila Times.
The World Bank (WB) and Asian Development Bank (ADB) this week cut their 2019 Philippine growth forecasts to 6.4 percent, from 6.5 percent and 6.7 percent respectively, due to budget approval delays, an ongoing El Niño and a global economic slowdown.
“The trimming of the growth forecast is understandable considering the downward risks … as mentioned,” Limjoco said.
The PCCI, she claimed, has been busy meeting with possible foreign investors in a bid to sealing deals and partnerships that could prop up the economy.
Limjoco said that last week alone she met with representatives from Portugal, Chila, Belarus and Namibia. She also held meeting with Japanese and Israeli businessmen.
“These are markets we can look into to expand and diversify,” she said.
Spending for the May elections and the upcoming Southeast Asian games could also boost economic growth as well, the PCCI chief said.
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