Remarks from the conference call - Duterte defined: His SONA and his legacy

PHILIPPINES - Report 26 Jul 2019 by Romeo Bernardo

GlobalSource Partners hosted a conference call on July 24, 2019, featuring Philippine Country Analyst Romeo Bernardo. This report is a transcript of his remarks on the call, which shed light on the dynamics of the economy and provided perspective on the country's macro and political prospects. The call was interactive, and our participants' questions highlighted the concerns of the investment community on the country's outlook.

Remarks from the conference call :
* First is the economy under President Duterte, which is doing well in terms of economic growth and stability. The reform agenda is also progressing better than expected.
* Second is the administration’s “Build Build Build” program, intended to usher in a “Golden age of infrastructure”. The “gold” is aspirational, but efforts may yet earn the administration a “bronze”.
* Third is an assessment of economic prospects in the next three years under President Duterte. I think growth will be resilient at 6%, or even 6.5%, but will be hard to sustain if higher than that.
* I will end with the more entertaining part, politics – what the President will do with his abundant political capital and the odds of policy continuity post 2022.

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