Economic outlook under the new leadership in Philippines

Global Business

Barnaby Lo1

The Philippines’ economic growth in the last five years has been the best in recent memory. Much of the credit has gone to President Benigno Aquino and his anti-corruption platform.

But with Filipinos set to elect their next president on Monday, the country has entered a period of uncertainty. Will the next president be able to build on the success? CCTV America’s Barnaby Lo reports.

Economic outlook under the new leadership in Philippines

Economic outlook under the new leadership in Philippines

The Philippines' economic growth in the last five years has been the best in recent memory. Much of the credit has gone to President Benigno Aquino and his anti-corruption platform. But with Filipinos set to elect their next president on Monday, the country has entered a period of uncertainty. Will the next president be able to build on the success? CCTV America's Barnaby Lo reports.


Who are the Philippines′ presidential candidates?

For more on the presidential hopefuls and what they could mean for the Philippine economy, CCTV America’s Ahmad Coo with a closer look.

Who are the Philippines′ presidential candidates?

Who are the Philippines′ presidential candidates?

For more on the presidential hopefuls and what they could mean for the Philippine economy, CCTV America's Ahmad Coo with a closer look.

Seventy-one year old Rodrigo Duterte, a longtime politician, points to his 22-year stint as mayor. He has support from the poor and the backing of business. He says he will crack down on crime and corruption, two things hurting investment in the Philippines.

Davao is considered one of the safest cities in the Philippines. But human rights organizations say Duterte has used vigilante groups to murder suspected criminals. He’s said he’ll do the same if he becomes President, raising fears he may become a dictator if he prevails.

Several reports have likened Duterte’s style of campaigning to another candidate running for U.S. President on the other side of the world- presumptive Republican nominee Donald Trump. And like Trump, he’s presented himself as an outsider who can challenge the status quo.

Rival Senator Grace Poe is running second in the polls, despite her limited national government experience. The adopted daughter of a famous Filipino actor, her appeal comes from a track record for avoiding corruption.

Many consider Poe pro-business and good for the economy. She’s said that she wants the Philippines to join the Trans-Pacific Partnership.

President Aquino’s choice to succeed him, former Interior Secretary Mar Roxas, is a distant third. Unlike Duterte and Poe, he comes from one of the country’s oldest political dynasties. His father was the first president of the Philippines. He’s also considered pro-business because he began his career as an investment banker in New York.

Roxas has said that he will build on President Aquino’s economic successes and create more jobs at home so Filipinos don’t have to go abroad.

Current Vice President Jejomar Binay and another Senator Miriam Defensor Santiago round out the top five.

Duterte’s supporters believe the vote will be a formality and he’ll become the next President. But, if the past few elections are a guide, this year’s version could be just as unpredictable.


Reuben Mondejar on Philippines’ economy and elections

For more on Philippines economy and elections, CCTV America’s Rachelle Akuffo spoke to Reuben Mondejar of the City University of Hong Kong.

Reuben Mondejar on Philippines' economy and elections

Reuben Mondejar on Philippines' economy and elections

For more on Philippines economy and elections, CCTV America's Rachelle Akuffo spoke to Reuben Mondejar of the City University of Hong Kong