A Brave Forcast For Philippine Economy Under Duterte

The resiliency of the Philippines economy is already a fact. Blessed with the election of Duterte as President, the country now has a leader that can truly transform it into economic maturity.

The Philippines economy was indeed already primed for phenomenal take-off at the end of Arroyo's Presidency. The rise was only stalled by the indecisiveness of the Aquino Presidency to implement programmed mega infrastructure projects, institute reforms and to eradicate corruption. A strong leader with sincere political will like Duterte as President can make the difference.

Barely less than three months as President, Duterte has undertaken a no nonsense campaigns against corruption in government, criminality, illegal drugs and favor seeking oligarchy. He instituted reforms in the bureaucracy to fight smuggling, illegal mining and fishing and to hasten transactions with government agencies. He called for immediate implementation of long stalled infrastructure projects including in finding a solution to the worsening traffic problems in Metro Manila. He is modernizing the AFP and PNP to strengthen both internal and external security. And many more.

Now consider that the Philippines is expected to register exports of around $50billion and imports of nearly $60billion in 2016. Put into the picture too the estimated OFW earnings of around $26billion and BPO industry income of not less than $26billion this year and readily a net foreign exchange surplus of a little less than $40billion can be attained! This in layman's view is equivalent to having earned that much in exporting A BILLION BARRELS OF OIL at current prices this year alone. And such doesn't include yet possible foreign exchange earnings from tourism and multi-national casinos that are newly opened. Surely there will be strong economic fundamentals, even without discussing other relevant factors, to support a boom in the country's economy.

Everything bodes well for the Philippines, and most Filipinos love President Duterte for displaying a leadership prowess and tenacity reminiscent of Lee Kwan Yew. While declaring an independent foreign policy, allied nations must not look upon it as a threat to existing security arrangements. It must instead be viewed as an attempt by Duterte to make the Philippines able to stand alone economically prosperous and externally secured, that in turn will further strengthen existing alliances. The bottom line is there's no other possibility for the Philippines but to rise wonderfully as a nation under Duterte.