Roxas, Poe will be good for economy — Int’l group

DILG Secretary and Liberal Party frontrunner for 2016 Mar Roxas (Photo from Roxas’ official Facebook page)

MANILA — Senator Grace Poe or Interior Secretary Mar Roxas becoming President in 2016 would be good for the country’s economy, according  to the Institute of International Finance (IIF).

The Washington-based group said that Vice President Jejomar Binay for president may undermine the reforms started by the Aquino administration.

“The upcoming presidential election will likely provide a short-term economic boost through government spending and investment, but maintaining policy continuity will be a challenge,” IIF said.

The institute made the statement in a report released last month entitled “IIF Dispatch: Philippines Update.”

The group said that the elections next year could “prove challenging” to the economy of the Philippines and its transformation in the recent years.

“The typical pre-election infrastructure investment surge would favor Interior and Local Government Secretary Manuel Roxas (President Aquino’s running mate in 2010), but it seems likely that investors will stay on the sideline and wait to see how the new administration shapes up,” it added.

“Sen. Grace Poe, an independent with ties to Mr. Aquino’s Team PNoy, has also recently emerged as a potential contender.”

However, “[i]f the more populist Vice President Jejomar Binay wins, he could undermine the government’s PPP strategy if/when he takes office,” IIF said.

The group was referring to the public partnership program which is the centerpiece of the  Aquino administration.

“While a victory for Poe or Roxas would favor continuation of the current administration’s agenda and would be market positive, it is too early to tell how the market would react if Binay wins,” IIF said.