DOF highlights results of BSP survey
THE all-time high level of consumer confidence at the onset of the new administration best illustrates the remarkably high level of public trust and confidence in President Rodrigo Duterte, the Department of Finance said on Monday.
In particular, consumers are highly confident that the Duterte administration can deliver on the President’s campaign commitments, particularly on restoring peace and order and achieving inclusive growth, DOF spokesperson Paola Alvarez said in an emailed statement.
Citing results of the Bangko Sentral ng Pilipinas’s (BSP)’s latest Consumer Expectations Survey over the weekend, Alvarez said the relentless war against drug traffickers and their cohorts in the government resonated well with the public and proved that the President is right about his campaign to restore and maintain peace and order while keeping the economy on its high-growth path.
“According to the BSP, the overall confidence index registered its highest reading for the third quarter of this year, and one of the reasons cited by our countrymen for their optimism was the improvement in the peace and order situation and the campaign against drugs. This shows that they approve of the President’s tough hand in dealing with the illicit drug problem,” Alvarez said.
“President Duterte won by a landslide in the May elections because he promised – and the electorate believed – that ‘real change’ was coming, and that it would benefit all Filipinos and not just the traditional elites,” she added.
The BSP survey showed the confidence index at its highest reading of 2.5 percent from -6.4 percent in the second quarter.
Respondents based their optimism on the following factors: 1.) Improvement in the law and order situation; 2.) Availability of more jobs; 3.) Stable prices of commodities; 4.) Anticipated increase in salaries; 5.) Effective government policies; 6.) Assumption into office of the new administration; 7.) Assistance from the government such as the Pantawid Pamilyang Pilipino Program (4PS).
The survey results indicated that the optimists outnumbered the pessimists for the first time since the BSP started the poll in 2007.
“Restoring public confidence in government and its national leadership – and not the political noise that certain groups have been whipping up in pursuit of their partisan agendas – is what has topped our people’s concerns, as shown by the reasons they have cited for this high level of optimism in the new administration,” Alvarez noted.
The administration is committed to fulfill its electoral mandate, with its 10-point socioeconomic agenda focused on accelerating spending on infrastructure, human capital and social protection for the poorest of the poor, according to the Finance Department.
“The 10-point socioeconomic agenda anchored on inclusive growth will help create jobs and invigorate the economy in the countryside. A key element of this agenda is the implementation of sweeping tax reforms that aim to increase the take home pay of our workers, invigorate businesses, attract more long-term investments and bankroll the programs and projects that would translate into high inclusive growth that President Duterte has pledged to deliver on his watch,” Alvarez said.
“Given this high level of trust and confidence in the Duterte administration, the DOF is calling on our countrymen to join us in being partners for real change. We can make real change happen, if we work together and support our government,” she added.