8.3% GDP growth to bolster biz confidence despite admin shift

The chief economist of the Kuala Lumpur-based Juwai IQI Global, Shan Saeed, told the Philippine News Agency (PNA) that the strong GDP growth from January to March this year would keep market confidence afloat despite a transition in administration.

“This would bolster the confidence of the government to expand the fiscal side of the balance sheet to maintain economic momentum in the country. Government strategic intent would be for the next 12 to 17 months to have macroeconomic stability to attract FDI (foreign direct investments) and buttress the GDP outlook,” he said.

Saeed added that the presumptive president is expected to continue the economic reforms of the Duterte administration.

“We at IQI Global expect the government to maintain macroeconomic stability and to have economic confidence for local and global investors,” he said.

Read more: Philippine News Agency

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