Businessmen expect resilient economy ahead

MANILA, Philippines – The economy will become more resilient in the next few months, the Makati Business Club (MBC) believes.

Seventy-six percent of respondents in the MBC’s second semester 2011 Executive Outlook Survey believe that the economy will perform better in the next 12 months, while only 20% gave a negative outlook.

The vote of confidence was already apparent since President Benigno Aquino came into office, with 64% of respondents stating that the business environment has improved over the past 12 months.

Some 53% of the respondents also believe that corruption has been reduced since Aquino took over.

A majority, 80%, believes that graft and corruption charges should be pursued against former President Gloria Macapagal Arroyo.

The respondents also gave the highest net satisfaction scores to the following government agencies: the Bangko Sentral ng Pilipinas, Department of Finance, Department of Trade and Industry, Department of Foreign Affairs, and the Department of Health.

On the other hand, the Ombudsman, the Sandiganbayan, the appeals and lower courts, the Philippine National Police, and the Bureau of Customs received the lowest net satisfaction scores for their performance from July 2010 to June 2011.

In a statement, Presidential Spokesman Edwin Lacierda said, “We are also united in the view that although the nation has achieved palpable progress, there is much work left for us to do. It is worth noting that the agencies with the lowest net satisfaction scores are those where corruption has been most deeply entrenched.”

He added, “We are hard at work to root out corruption in all of our agencies, and the next couple of months will no doubt manifest the reforms we have established, beginning with the appointment of our new ombudsman, Conchita Carpio-Morales.” –abs-cbnNEWS.com