Department of Finance admits US policies will hurt BPOs

Donald Trumph

The Department of Finance (DOF) has admitted that US President Donald J. Trump’s protectionist policies will weaken the Philippine business process outsourcing (BPO) sector. The DOF’s statement comes after a number of organizations and think-tanks said the country’s BPO sector will continue to thrive even with the new US policies. Finance Secretary Carlos Dominguez III said the BPO sector will weaken if Trump pushes through with his plans to implement trade reforms. He said the protectionist policies will dampen trade and have an adverse impact on call centers. Dominguez, however, said the Philippines is poised to attract more private investments, especially with an inflation rate that has remained benign and an investment-grade credit rating that has kept the cost of money low.