“An average of 6 percent to 7 percent is achievable in the next six years, with law and order in place,” claims the economic adviser of President-elect Rodrigo R. Duterte, Dr. Ernesto M. Pernia.
A professor emeritus of the University of the Philippines School of Economics, Pernia believes that through Duterte’s primary national agenda of creating and maintaining peace and order all over the Philippines, investors will have no qualms putting their money in the country.
Duterte has always been vocal about pushing for development outside the National Capital Region (NCR) and Luzon as he hopes for the implementation of the federal form of government; thus, under his presidency, significant growth can be expected in Visayas and Mindanao.
Aside from these two primary reasons why Pernia is positive that Duterte can top the economic achievements of outgoing President Benigno “PNoy” Aquino III, he also thinks that because the people had been clamoring for change; thus, they would surely “demand services from the government” which Duterte would have to meet.
With this so-called “action-driven” and “results-oriented” approach in addressing issues in the government, the people could expect growth in the economy even though the numbers may not be very high – and such is actually expected of economic figures.
Now, it can be recalled that while announcing Duterte’s 8-point agenda, the incoming administration admitted that it will continue some of PNoy’s economic policies; still, there would surely be changes to the system under the new administration especially in terms of budget and spending in the agricultural sector (especially the rice production sector) which Duterte hopes will be self-sustaining before his term ends.
Whatever route he must take to ensure his policies and ideas are implemented, we all hope that such would help bring in the much-needed change that people are clamoring for, without hurting the economy and making us fall into deeper debt as a country.
Source: Business Mirror; Featured image credit: Inquirer
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