The Philippines’ inflation rate may have gone up by 6.1 percent in June — much to President Ferdinand “Bongbong” Marcos Jr.’s disbelief — but 46 percent of Filipinos are optimistic that the economy will improve, according to a Social Weather Stations (SWS) survey.
The SWS quarterly nationwide survey showed that those optimistic about the country’s economic rebound said that they believed the economy would be better in the next 12 months. Meanwhile, 28 percent said the economy would stay the same while 6 percent said it would worsen.
The survey was conducted between April 19 to 27 and polled 1,440 respondents.
The same survey also found that more Filipinos were bright-eyed about their quality of life in the next 12 months — 44 percent said it would improve, 39 percent said it would stay the same, while 4 percent believe it could worsen, while 13 percent did not answer.
Interestingly, the April survey also found that 43 percent of Filipino families classified themselves as poor, 34 percent as borderline poor, while 23 percent said they were not poor.
According to SWS, the Net Optimism Score, the percent of economic optimists minus the percent of economic pessimists, was at +40, which is classified by the survey firm as “excellent.”
The findings come just as some economists have warned that the Philippines should brace for another “second round of inflation effects” that may come with further rising transportation costs and other consumer prices.