Phl can withstand impact of new US tariffs

JAZA confident Ayala Group resilient enough to weather volatility

- By RICHMOND MERCURIO

Zobel said the Philippine economy remained resilient last year despite heightened uncertainties and geopolitical tensions, registering one of the fastest growth in the region at 5.6 percent.

He said fueling the country's growth and economic resiliency were favorable demographics, strong OFW remittances, robust revenues from the business processing outsourcing sector and historically low unemployment.

Looking ahead, Zobel said domestic consumption, which comprises around 72 percent of gross domestic product, would continue to provide a buffer against external shocks.

"We think this will also reduce our vulnerability to shifts in trade and tariffs, including those recently announced by the United States, which is an important trading partner of the Philippines," he said last Friday during the company's annual stockholders' meeting.

However, the business titan said the country must be watchful and mindful of the ongoing market volatility.