Election-proof?

PHILIPPINES - Forecast 25 Apr 2016 by Romeo Bernardo and Christine Tang

The Philippine economy continued to chug along in 1Q16 as internal growth drivers benefited from low oil prices and election spending, with remittance inflows remarkably resilient and further amplified by a weaker peso. Looking at the next 12 to 18 months, the crucial question for the local economy is, can the next president, to be elected in two weeks’ time, govern well and deliver on promised infrastructure spending? While we continue to expect a smooth transition, the close race to date suggests that the winner will likely have only a minority share of the votes and will have to be adept at forming alliances, especially in congress, to accomplish reforms. He/she will also have to score early successes to establish a track record of his/her ability to get things done.

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