'After two years of struggles with the pandemic and all these other crises, nowhere to go but up ang Pilipinas, ang economy,” says Filipino-Chinese businessman Wilson Lee Flores.
The Filipino-Chinese community ushers in the Year of Thundering Water Tiger on a positive note and a more upbeat attitude.
“I sense a feeling among the businessmen, there’s nowhere to go but up for the Philippines…After two years of struggles with the pandemic and all these other crises, nowhere to go but up ang Pilipinas, ang economy,” Filipino-Chinese businessman Wilson Lee Flores told CNN Philippines., which exceeded the economic team’s 5% to 5.5% target band for the year. The performance was a vast improvement from 2020’s 9.6% contraction.
With the 2022 elections coming up, Filipino-Chinese businessmen are also expecting at least a 1-2% addition to the country’s economic growth, Flores added. He said the timing of the Chinese New Year is"fantastic for the Philippines" after the government approved easing toseveral areas, including the National Capital Region, from Feb. 1-15. He also cited the OCTA Research group, which said the “worst is over” for most parts of the country, where COVID-19 infections already passed their peak.
The government placed some areas, including Metro Manila, under Alert Level 3 this month due to rising COVID-19 cases driven by the Omicron variant. Despite this, the National Economic and Development Authority said the impact of the shift was “For 2022, the government is targeting a growth of 7-9%.
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