While the Philippine economy increased by 5.6 % last year, which is the region’s fastest rate, headline inflation increased by 4.4 % in July to reach its highest level. Food prices rose to 6.7 per cent.
Foreign investment is still relatively small. And the conflict could have an impact: It was “lead to a period of political instability”, said Ibarra. ” What’s spooked investors as well as our diplomatic partners ( is ) how quickly policies can change between administrations”.
If Sara Duterte wins the 2028 presidential vote, he added, it is likely that she will remove Marcos ‘ plans.
Even up in the air, with the US presidential poll looming in November, was become US assets pledged to the Philippines. ” We wo n’t have any problems if ( Kamala ) Harris wins”, said Beleno. ” If it’s ( Donald ) Trump, then that’s another story.
” If Trump perceives that ( the US ‘ ) presence in the Philippines will only cost them money and they wo n’t gain anything, I do n’t think they’ll continue whatever promises the ( Democrats ) made.”
Therefore the Philippines would be in a” resilient place”.
” The Dutertes could use this condition to their benefit: ‘ I told you, right? China should just be a companion. Thus, we were right. … Since this supervision made a mistake, we may correct it,'” said Beleno, speculating what Duterte may say.