Statement of Lacierda

This is the Official Statement of Presidential Spokesperson Edwin Lacierdaon business optimism and investor confidence in the Philippines

Newfound trust in our government continues to reflect in our economic outlook, which remains positive despite the effects of political instability in North Africa and the Middle East, the consequent rise in oil prices, and calamities in Japan. Our macroeconomic fundamentals remain sound, and investments continue to flow into our country despite recent events which have adversely affected the global market.

Necessary reforms are being implemented to further swell the ranks of the optimists, who at this point still far outnumber the pessimists. Our team of economic managers continue to work on ways to streamline business processes, and our Public-Private Partnership projects are also already well on their way to fruition. These efforts will further enhance the economic outlook of our country; its effects will be felt by the majority of our countrymen over the coming years as the Aquino administration continues to realize its vision of equitable growth.

May 27, 2011

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Credits from the Office of the Presidential Spokesperson

3/F New Executive Building,

Jose P. Laurel St., Malacañang, Manila