Phl economy ‘unfazed’ by political noise

Senate President Francis “Chiz” Escudero believes the current political situation will not significantly disrupt the Philippine economy.

On Wednesday, Escudero stressed that political developments will only have a minimal impact on the country’s economy, as economic foundations remain strong.

He also pointed out the strong democratic processes in place that will safeguard the Philippine economy from major disruption.

“This demonstrates the stability of our economy despite the political noise,” he said.

Escudero touted that the Philippines continues to be among the fastest-growing economies in Southeast Asia, growing at a faster pace than neighbors Singapore, Thailand and Malaysia.

“Political developments always have an impact on businesspeople. They may cause a slight slowdown or restraint. However, I hope that as the situation eases and clarifies in the coming days, months, and weeks, business people’s fears will subside, and they will resume investing in our country, which we desperately need at this time,” he added.

Meanwhile, Escudero cited reports on the easing of the inflation rate to 2.1 percent last month.