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Palace welcomes Deutsche Bank official’s optimism on economy

August 19, 2012 11:13am
Malacañang on Saturday welcomed the assessment on the Philippine economy by Deutsche Bank AG chief economist for Asia Michael Spencer that the Philippines will be one of the strongest performing economies this year.

Deputy presidential spokesperson Abigail Valte said Spencer’s optimism “validates” what other analysts had said about the Philippine economy.

“That’s welcome news. It validates what other analysts said about the Philippines,” Valte said on government-run dzRB radio.

She added the government continues to be optimistic for the second quarter, saying the figures for that will be coming out soon.

Earlier, Spencer told Bloomberg in an August 9 interview that the Philippines is the strongest as well as the safest place for funds to be.

He was quoted as saying “the strongest performing economy in Asia today is the Philippines."

The Philippines had recorded 6.4-percent growth in the first three months of 2012. — LBG, GMA News
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