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Higher number of people eating out reflects growing PH economy — DTI

01:39 PM July 13, 2018

The higher number of people eating out in restaurants is reflective of the country’s “growing economy”, Trade Secretary Ramon Lopez said on Friday.

“Yung mga dating ‘di kumakain sa labas, kumakain na sa fast food. Yung mga kumakain sa fast food, kumakain na sa mga eat-all-you-can. Yung mga kumakain sa eat-all-you-can, kumakain na sa mas mamahaling restaurant. Parang lahat po ay medyo nag-uupgrade,” Lopez said in an interview over Radyo Inquirer 990 AM.

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“Sa mga talaan natin, yung eating out sa mga restaurants, yan po ang isa sa mga lumalaki. Characteristic po ng growing economy, ng growing middle class,” Lopez said.

He also cited a Social Weather Station (SWS) survey, which shows that many Filipinos have transitioned out of poverty, implying that people have more money now than before.

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“Huling survey ng SWS, maraming nagsabi na hindi sila mahirap ngayon. Ibig sabihin, bumaba na yung nagsasabi na mas mahirap sila ngayon. Ibig sabihin ho, mas marami silang hawak ng pera,” said Lopez.

READ: SWS: 1 in 3 Filipino families escaped poverty in Q1 of 2018

As for the country’s trade and industry, Lopez noted an 8% growth in the manufacturing sector, triggering a decline in unemployment rate.

“Kung paguusapan ang industry, 8% growth tayo sa manufacturing. Ibig sabihin, lumalago ang pabrika, lumalago din ho yung employment dun. Kaya ho nakabawas sa unemployment. Yung investment, pumapasok din,” he said. “Yung FDI (Foreign Direct Investments), nag-grow tayo sa almost 20% versus last year, considering the whole year ng 2017.”

READ: Foreign investments into PH surged in Q1 on strong economic prospects

“Ang ganitong pangyayari sa ating foreign exchange, nakakabuti rin ho yan. ‘Di naman po automatic na masama yun dahil yan po ay nagpapagana ng export,” Lopez explained, when asked about the peso-dollar exchange rate.

He said the higher peso-dollar exchange rate is not only good for the export sector but also benefits the local manufacturing sector.

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“Mahihikayat yan ang local manufacturers na mag-invest pa dahil parang may proteksyon sila sa import. Ito po yung matagal na nating kinakailangan para, in the long term, lumalaki ang production sector natin,” Lopez said. — Syrah Vivien Inocencio/INQUIRER.net Intern

/vvp

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