This is a re-posted opinion piece.
The country is currently enjoying a welcome episode of market stability, industrial peace, improved consumer and business confidence, and stock market buoyancy that has reached new heights. The global perception that the government has buckled down to seriously address the crippling grip of corruption, particularly in high places that distorted the playing field and deterred investments in the past decade, has a lot to do with it.
Consider this: The markets are liquid; the country has been getting successive credit rating upgrades; interest rates are low; there is increasing government spending and investments to spur economic growth; international reserves continue to rise, as with OFW remittances; the peso is showing remarkable resilience; the banking sector is stable; and corporate balance sheets are exhibiting strength. Inflation has been kept comfortably in check.
Compared to its neighbors in Asia the country has been cited to have the best performing equity market. And because our economic and corporate condition has been strengthening steadily, the inflow of capital investments has been remarkable as well. Aiding this is the flight to safety, quality and opportunity by fund managers who remain bearish toward the US’s slowed recovery and Europe’s latest debt crisis; and the easing of monetary policies. PNoy’s top-notch economic team has been the ace up his sleeve that walk the talk.
Read the full article: https://www.bworldonline.com/content.php?section=Opinion&title=Situational-awareness&id=48625
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By: Rafael M. Alunan III - To Take A Stand
Source: Business World, March 19, 2012
To view the original article, click here.
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