PCCI confident PHL to sustain growth this year

MANILA -- The Philippine Chamber of Commerce and Industry (PCCI) is confident that the Philippines can sustain its strong economic growth this year.

In a phone interview, PCCI President George Barcelon said the country's economic growth would be supported by investments from public and private sectors in infrastructure projects.

The sustained economic growth will also be driven by strong remittances and consumer spending.

He added that the country could also sustain a gross domestic product (GDP) growth of 6.5 percent and above for this year.

On the other hand, PCCI Chairman Emeritus Francis Chua noted that the inward-looking policy of United States President Donald Trump might affect the decision of US companies to invest outside its country including the Philippines.

"On negative side, if ever American businesses decided to bring home all call centers, we can be negatively affected," Chua said in a text message.

"On positive side, we foresee more Chinese investments and tourists heading towards us," he added.

The Philippines recorded 6.6 GDP growth for the last quarter of 2016 bringing the full year growth last year at 6.8 percent. This made the country among the top performing economies in Asia along with China and Vietnam. (PNA)

Source: Philippines News Agency

Related posts