Malacanang has attributed the results of the Business Expectations Survey
of the Bangko Sentral ng Pilipinas (BSP) showing continued improvement in
business sentiment to the improved partnership between the government and
the business sector, a Palace official said on Friday.
"We welcome the results of the Business Expectations Survey of the Bangko
Sentral ng Pilipinas that showed continued improvement in business
sentiment for three consecutive quarters now," Deputy Presidential
Spokesperson Abigail Valte said in a statement issued on Friday.
Valte said that gains have been achieved from the improved partnership
between the government and the business. "This is a continuing affirmation
from the business sector of our government’s efforts to curb corruption,
strengthen our fiscal position, and ensure the country is on track to
achieve equitable and inclusive growth for all," she said.
According to the latest survey, the Confidence Index rose from 38.7% in the
fourth quarter of last year to 40.5% in the first quarter of this year.
The respondents cited several factors for their continued confidence,
namely; increased public spending, business expansion arising from steady
investment flows, sound macroeconomic fundamentals and political stability,
and possible further credit upgrades for the Philippines.
Moreover, bullish sentiment for the next quarter rose significantly to 55.4
percent from 36.1 percent in the previous quarter.
Valte said the Department of Budget and Management also reported on
Thursday that 85% of infrastructure projects under the Department of Public
Works and Highways have already been bidded out as of February 15 this