Philippine Chamber of Commerce and Industry chief voices ‘cautious optimism’ on growth outlook | Andrea E. San Juan

Philippine Chamber of Commerce and Industry President George T. Barcelon said he is “cautiously optimistic” on the economic outlook of the country for this year, noting that high food prices could “stunt” business.

He said this is a “vicious cycle” that could stunt business and “negatively impact” the competitiveness of the export sector. As such, Barcelon said, “the outlook on both job creation and sustainability for the year may encounter headwinds.” “Food prices have a big impact on inflation and have to be dealt with. If DTI were to allow importation with quantifiable restriction, traders with no cold storage would take the opportunity to make certain reasonable profits,” he added.

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