Saturday, 20 November 2010

PHILIPPINES: Aquino, OFW money drive investor confidence

Investor confidence in the Philippines reached an all-time high this quarter, driven by perception that the Aquino administration would be able to sustain a strong economy on increasing remittances by Filipinos abroad.

The confidence index hit an all-time high of 50.6 percent this fourth quarter from 45 percent in the third quarter, BSP Economic Statistics director Rosabel Guerrero said in a briefing Thursday, citing results of central bank’s quarterly Business Expectations Survey. Read more

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