Investor confidence up as PH economy fully reopens
MANILA, PHILIPPINES — Investor confidence in the country’s economy has significantly improved, based on the latest survey from the central bank.
Results of the first quarter 2023 Business Expectations Survey of the Bangko Sentral ng Pilipinas (BSP) saw the confidence index (CI) rising to 34 from 23.9 in the previous quarter.
The next quarter’s CI also increased to 49 from 31.3, while the index for the next 12 months inched up to 61.9 from 46.2.
Around 1,554 companies participated in the survey, which was conducted from January 13 to March 6.
In a briefing, BSP Monetary Policy Sub-Sector officer-in-charge Redentor Paolo Alegre Jr. attributed the increased investors’ confidence to the full reopening of the Philippine economy and lifting of movement restrictions.
Alegre also attributed the improvement in CI to higher consumer demand for products and services, increased business activities and sustained economic recovery, and expansion and new business opportunities in healthcare, manufacturing, and construction sub-sectors.
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