Malacanang on Saturday said the latest Business Expectations Survey by the Bangko Sentral ng Pilipinas ( BSP) is a ''good indicator of strong business and investor confidence'' to the Duterte administration.

According to the BSP, business outlook rose to 35.2 percent in the first quarter of 2019 from 27.2 percent during the last quarter of 2018.

BSP said this figure is the highest level since the second quarter of 2018.

“We consider this jump of business optimism as a good indicator of strong business and investor confidence to the decisive leadership of President Rodrigo Roa Duterte and his competent economic team, which resulted in the easing of inflation and higher government infrastructure spending, two of the primary reasons mentioned by respondents for their upbeat outlook,” Presidential Spokesperson Salvador Panelo said in a statement.

Panelo said Duterte wants to strengthen the economy that will redound to the Filipino people which will provide them a comfortable life.

“The Chief Executive is a man of action and his recent stern resolve to address the challenges that plagued the nation showed that his utmost priority is our people,” he said.

“His leadership style is reflected on his swift action, which is for effecting real and lasting change,” Panelo added. Ella Dionisio/DMS