Duterte’s war on drugs paving way for bullish economy

 

President Rodrigo Duterte

President Rodrigo Duterte

President Rodrigo Duterte only recently got appraised on his 50th day in office and while his bloody campaign against illegal drugs became the fodder for media nobody can deny, however, that we may be seeing the turn-around of the country for the better.

It looks like trust and confidence in Duterte’s leadership among Filipinos has even grown stronger because he is doing exactly what he promised to do if elected, which was to waged war against illegal drugs, criminality and corruption.

Not only has Duterte consolidated his political power in congress but he seem to be getting also the support of practically all sectors of Philippine society, even some ranking officials of the Catholic church, because they have all seen the seriousness and determination of his resolve to put an end to the ills that have been plaguing the country all these years so it could start moving forward towards economic growth and development.

While the Duterte administration is busy conducting a violent and highly controversial anti-drugs campaign, the president has not lost sight of the fact that peace and stability are important factors for a country’s sustained growth and development, thus, his initiative to be in harmony with the communists and the Muslim rebels in Mindanao.

This gesture of promoting friendship, reconciliation, unity and smoking the peace pipe is very much welcomed by the business community which is now foreseeing a surge in new investments by local and foreign nationals.

Other factors that are giving the business sector a positive outlook for the future is the government’s plan to start immediately prioritizing infrastructure spending and cutting of red tapes.

That Duterte has asked congress for an emergency power to address the horrendous traffic problem in Manila is an added boost to the morale of the businessmen.

In May, Duterte told the country’s main telecom providers to speed up the internet, or he would junk laws that prohibit foreign competition.

Duterte’s economic plan also includes lowering corporate and income taxes.

While the outside world may be critical of the killings following Duterte’s war against illegal drugs, it has in no way affected the economic performance of the country.

Only recently the government announced that the Philippine economy grew at 7 per cent 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.

It has been reported that the mainstays of the economy – remittances and the outsourcing sector – are flourishing and boosting domestic consumption.

What this means simply is that Duterte is leading this country in the right direction, regardless of how many are killed in his war against drugs or whether he has called the US ambassador gay or he has ruffled the feathers of the UN by calling some members stupid.

That is the long and short of it.

2 comments on “Duterte’s war on drugs paving way for bullish economy

  1. Epsa says:

    Please dont mix the 7% GDP growth as part of your. Good report on the Duterte admin. Remember that period is still under previous regime. Current admin forecast only 5% for the rest of the year.

    Give credit to wherever is due.

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