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Wednesday, August 24, 2016

Netizen exposes De Lima's lies about Duterte's economic plan ~SHARE THE TRUTH~

 One of the most annoying thing said by De Lima one the first day of the senate investigation was when she made it appear that Duterte was focusing only on the drug problem and nothing else while PNoy was busy focusing on the the economy.

That is total bullshit and the farthest from the truth.

Thankfully, -K. Lema, Reuters took time out the spread the truth by writing this article.

"Less than two months in office, Philippines President Rodrigo Duterte is getting high marks from the business community for policies that could engineer an economic surge and companies say they are making new investments as a result.

While Duterte may be getting headlines for a bloody war against drug dealers and users, less attention has been paid to one of Asia's few economic success stories.

The groundwork was laid by Duterte's predecessor, President Benigno Aquino, who took growth above 6 percent over his six-year term , but executives are also cheering the new administration's focus on building new infrastructure and say it could spell the start of a long-term boom. Some even see Duterte's violent and highly controversial anti-drugs campaign as potentially positive.

"We are in a very good spot," said Antonio Moncupa Jr., president and CEO of East-West Banking Corp, one of the top 10 lenders in the country. "The pronouncement of government prioritising infrastructure spending, accelerating it and cutting red tape, solving peace and order, I think all point to very good prospects ahead."

Last week, the government announced that the Philippines' economy grew at 7 percent in the second quarter from a year earlier, its highest level in three years. It makes the Philippines the fastest growing among all countries that have reported so far for the second quarter.

When Duterte won the May presidential election, there were questions marks over how he would handle the economy - Duterte, who is nicknamed "the Punisher", has been unapologetic over unleashing the police on drug users and dealers. Philippine National Police Chief Ronald Dela Rosa said on Monday that there have been 1,800 drug-related deaths since Duterte took over as president, with 712 of those at the hands of the police.

The new president has launched a crackdown on online gambling, vowed to destroy oligarchs, warned that the country could live without a mining industry if environmental standards were not met and called the U.S. ambassador a "gay son of a whore".

But Duterte has a 91 percent approval rating in the latest public survey and businesses are lining up to announce expansion plans. The mainstays of the economy - remittances and the outsourcing sector - are flourishing and boosting domestic consumption.


Jollibee Foods Corp, the biggest fastfood chain in the country, plans to open 200 more domestic stores this year. So does Robinsons Retail, taking its total to over 1,500. BDO Unibank Inc, the country's biggest lender, plans to open 50-100 new branches this year.

"We are supportive and encouraged by the new administration's socio-economic agenda, which has a holistic approach for the benefit of all, including JFC," said Jollibee investor relations officer Cossette Palomar.

However, the Philippines has a worrying precedent of a strongman leader.

In the 1960s, when the country had one of the highest per capita incomes in Asia, Ferdinand Marcos took over as president. Two decades of dictatorship, corruption and plunder by Marcos left the Philippines in a shambles."

-K. Lema, Reuters

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