When heightened uncertainty prevails, government has a role to play in adopting measures that contribute to reducing the state of uncertainty and in helping economic agents coordinate expectations towards a socially optimal outcome. This raises a few difficulties for policy authorities. First, they have to assess whether the state of uncertainty is such as to justify active intervention.
Ladies and gentlemen, the Philippine economy enjoys a sustainable growth momentum. Over the medium term, the Philippine economy is expected to expand by above six percent annually in the next three years. But this does not warrant complacency. For both the government and the private sector, disruptive forces must keep us on our toes.