Is Duterte the reason for the Philippines economic success?

FROM an economic position, it is hard to state whether President Duterte is the reason or not for the continued stimulus of 6% GDP growth. 

Capital Economics website estimated that the economy grew around 6.5 percent year-over-year in the second quarter. If sustained we will be leading the rest of South East Asia. 

 

Hot Money

What is fair to say about his involvement?  The first hint is the amount of Hot Money coming back to the Philippines.  

Yes, when President Duterte took office, hot money was at a deficit. More investments were being liquidated than…

Read more: Is Duterte the reason for the Philippines economic success?

Solon: Shield the poor from declining peso
Rep. Aniceto Bertiz III

PUBLIC utility regulators were urged to always protect the interests of the poor in considering parity rates on water, power, transport, irrigation and other fees amid the continuing depreciation of the peso.

Rep. Aniceto Bertiz III of the ACTS OFW Party list was particularly addressing regulatory bodies that have to with water, electricity and transportation sectors urging them to be  “sensitive, prudent and wise in the setting of utilities rates.”

“I am reminding the various public utilities regulatory agencies to keep the economic hardships of the poor and the middle class in mind when they consider…

Read more: Solon: Shield the poor from declining peso

PHL, Czech Republic ink economic pact

TRADE Secretary Ramon Lopez and Czech Ambassador to the Philippines Jaroslav Olša, Jr. signed recently the PH-CZ Agreement on Economic Cooperation, which they hope will go a long way in further strengthening trade and investment relations between the two countries.

“What we are having here is a milestone between our two countries. The strengths and resources complementarities have long been untapped.  It is our desire to be with alternative markets and forge new partnership,” Sec. Lopez said.

Lopez emphasized the increased potentials of technology-oriented industries, auto and aerospace parts, electronics, agri-based, energy, transportation, and tourism between the two countries.

“Tourism…

Read more: PHL, Czech Republic ink economic pact

OFWs remittances parry peso slide

HAMPERED by the continued volatile political situation in Asian region, the peso earlier last week further weakened to a fresh almost 11-year low against the US dollar, sliding to 51.34:$1 on Tuesday from 51.08:$1 last Monday.

The figure was the peso’s weakest against the dollar since Aug. 25, 2006 when it tabbed at 51.38:$1.

At the Philippine Dealing System, the peso reached an intraday low of 51.35:$1 and a high of 51.13:$1 after opening at 51.2:$1. 

The total volume traded jumped to $659 million from Monday’s $291.5 million.

 

Geopolitical Tensions

“This…

Read more: OFWs remittances parry peso slide

TO SPUR economic activities in the countryside, the National Economic and Development Authority (NEDA) has approved P77- billion worth of infrastructure projects for the Western Visayas region.

The amount will primarily be used in building bridge network connecting the islands of Panay, Negros, and Guimaras aimed at fast tracking business activities in the region.

Aside from interconnected bridge network, part of the fund will also be used in the repair and rehabilitation of the Iloilo International Airport and Panay River Basin Integrated Development Project, a multi-purpose megadam project in Capiz. 

China and Japan expressed their interests to fund the projects through Official Development Assistance (ODA). 

Economic planners believe that the bridge network will greatly help the economies of the three islands in transporting goods and moving people faster. 

Iloilo International Airport will have a major physical facelift especially at the terminal building, baggage carousel, and other areas. 

The megadam in Capiz meanwhile will help ease flooding in the province flooding and to add power to the city. (Ehlorra Mangahas, Trainee)

Read more: NEDA pours P77-B in WV infra projects

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