MANILA, Philippines – The Bangko Sentral ng Pilipinas (BSP) has released its business expectation survey results for the last quarter of 2017.
BSP forecasts stronger business in the country in the 4th quarter of the year.
With over 1,000 survey respondents from October 2 to November 20, 2017, they said they are positive business will be better in the country.
Business firms connect the positive response with the increase in the number of purchasers in the holiday season, an increase in the number of businesses that plan to expand, the government’s funding for infrastructure projects, and the expansion of the country’s export market.
According to the BSP, if several businesses have been affected by issues like the war on drugs among others, these are no longer noticed or even mentioned.
Businessmen in the country, according to the BSP, have a new mind set.
“That is not something that they consider when they make business decisions whether to expand, employ more people excluding the revolutionary government, EJK, impeachment proceedings,” BSP Deputy Governor Diwa Guinigundo said.
The Department of Trade and Industry (DTI), said there are now more people who want to invest on businesses.
According to the agency there has been a rise in the number of applicants for loan and establishment of businesses.
“There are people who come to the office to have their businesses upgraded and have additional capital, to be able to acquire equipment,” DTI Small Business Corporation Lending head, Lyn Orsos said.
However, according to the BSP, after this year, there is fear of weakening of businesses come first quarter of 2018 due to more expenditures in the holiday season, and people are no longer focused on purchasing.
There are also concerns that the value of peso will fall up to the next year. – Mon Jocson | UNTV News & Rescue