Philippine Economy has shown resilience and upsurge under Duterte admin – chief economist

The Philippine economy has shown resilience and upsurge during the Duterte administration, as per IQI Global Chief Economist Shan Saeed, during the recently held forum: “Philippines: Economic Outlook 2018-2019”. Saeed, who served as the speaker of the day for the said event, lauded the efforts of President Duterte in achieving political stability enough to bring the Philippines to the forefront of global investors.

The event was graced by Philippine Consul General H.E. Paul Raymund Cortes with his spouse, Dr. Yasmin Balajadia-Cortes. In attendance as well were hundreds of Filipino leaders and business owners within Dubai and the UAE.

The Malaysia-based economist also shared insights on stable growth, global investor’s radar, growing an infra-structure investment, productivity as well as a projection of the economic outcome. Shan emphasized that ever since President Duterte came into power, growth has remained over 6.3% and global investors have witnessed the president spearheading efforts to drive further growth – which brings confidence for investors to enter the growth market of Philippines.

(From L-R) IQI Global Chief Economist Shan Saeed, Dr. Yasmin Balajadia-Cortes, Philippine Consul General Paul Raymund Cortes, Group CEO of IQI Kashif Ansari

“Political stability brings economic confidence. Currently, the Philippines is in the global investor’s radar due to its strong growth trajectory and structured financial policies towards economic progression. The Philippines is an important player in Belt and Road equation and most investors are eyeing on the emerging markets. Higher labor productivity and demographics are important considerations for global investors to take long term positions in Philippines,” said Saeed.

ConGen Cortes addressed the organizing committee headed by Ellanie Villena and acknowledged the Filipino community’s effort in supporting the country and making the event a big success.

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