The country’s largest business group expects a rough ride ahead for the next leaders of the Philippines, including “blips in rating and downward trend” due to external factors affecting the domestic economy, even as they joined with the foreign business groups in expressing support for the incoming administration for the recovery of the domestic economy.
“The president-elect BBM will be faced with the same financial challenges due to the prolonged Covid-19 pandemic and lately the geopolitical storm in Ukraine similar to other countries . There will be blips in rating and downward trend,” Barcelon warned. Meantime, the JFC expressed “hope to continue to work closely with government officials at all levels” throughout the country for the recovery from the pandemic and to maintain high levels of GDP growth, infrastructure development, job creation, and FDI inflows.
“Let’s give the incoming administration time to draw up and share their plans in making our country more progressive,” said Barcelon urging everyone to “stay positive.”