Palace welcomes PHL’s favorable economic landscape

By on February 3, 2017


The Palace has taken notice of the current economic landscape in the country with the Philippine Stock Exchange ranking among the best performers in Asia for January. (Photo By Official Gazette of the Philippines (File:Malacañang Palace.jpg) [Public domain])
The Palace has taken notice of the current economic landscape in the country with the Philippine Stock Exchange ranking among the best performers in Asia for January. (Photo by Official Gazette of the Philippines (File:Malacañang Palace.jpg) [Public domain])

MANILA—The Palace has taken notice of the current economic landscape in the country with the Philippine Stock Exchange ranking among the best performers in Asia for January.

In a press briefing in Malacañan on Thursday, Presidential Spokesperson Ernesto Abella mentioned the observation of Nisha Alicer, Chief Equity Strategist at DA Market Securities, that Philippine shares had been outperforming much of Asia in January.

Looking forward to February, Alicer is optimistic that events such as the first Federal Reserve Monetary Policy Meeting for 2017 and the BSP Monetary Policy Meeting would bring positive feedback.

Abella likewise noted the observation of one of the biggest auditing firms in the country that the Philippines is “Asia’s new investment hub.”

Abella cited the statement of Vice Chairman Emmanuel Bonoan of KPMG R.G. Manabat & Co. that the growing economy helped boost consumer spending especially among millennials and tax reforms are needed to achieve economic growth.

The Palace official also noted the 30th anniversary commemoration of the Constitution Day, encouraging the nation to pay tribute to the hard work of the men and women who took the nation to new heights of growth, prosperity, and inclusivity.

“May this occasion remind us to strengthen the rule of law in light of our fight to rid society of drugs and crimes and stamp out corruption in government,” he said.

“Together, we will continue to reap the fruits of independence that shall benefit our people today and the generations to come,” he added.

Joining Abella Thursday was Francis Kong, a businessman and inspirational speaker, who said the administration is on the right track in solving the country’s pressing concerns.

Kong talked about millennials and concerns such as values and leadership gaps, and the need for today’s youth to have appropriate skills.

In tackling illegal drugs, Kong said as a businessman, he understands that to get a good result, there should be a process which he said usually takes time.

In addressing corruption, he said every head of organization, whether private or public, must have untainted character and should maintain consistency in truthfulness.

“Therefore, I’ll take a look carefully at very leaders of the institutions and I would say that they need to walk their talk, preach what they teach, and they need to be the embodiment of what this administration is supposed to represent,” Kong said.

Describing the President as “unconventional”, Kong said President Duterte is a “rare breed of his own in terms of leadership style.”

Kong said the West may not look at Duterte favorably but he enjoys huge popularity among his counterparts in Asia.