MANILA, Philippines—The local stock market may have breached the 7,000 mark Monday, but economist Astro del Castillo said Tuesday the effect of this may not be immediately felt by every Filipino.
In an interview with Radyo Inquirer 990AM, Castillo said it will take some time before the entire Filipino nation feel the benefits of this stronger economy.
Earlier reports had it that the Philippine Stock Exchange index closed at an all-time high of 7,120.48 points Monday.
“Siguro ang immediate effect niyan ay sa mga investors sa merkado talaga (I think the immediate effect of that are the with the investors in the market),” Castillo said, adding that more jobs will open when corporations expand their businesses.
He also said the “confidence” can possibly trigger perennial investments in the country.
“Kaya napaka importante ng role ng gobyeno . . . yung mga reporma ay maisaayos na (That’s why it’s an important role for the government, the reforms will be put in order),” Castillo said.