Duterte to leave presidency with ‘good’ PH economy: Palace

MANILA – President Rodrigo Roa Duterte’s successor need not worry about the current state of the Philippine economy, Malacañang said Thursday.

In an online Palace press briefing, acting presidential spokesperson and Communications Secretary Martin Andanar said the country’s economy is in “good” standing before Duterte steps down from office on June 30.

As Andanar noted, the country’s gross domestic product (GDP) grew by 8.3 percent in the first quarter of 2022.

Andanar also said the foreign direct investments in February 2022 rose by 46.3 percent year-on-year to USD893 million net inflows from USD611 million in the same month in 2021.

He likewise cited the preliminary data from the Philippine Statistics Authority which showed that manufacturing grew by 336.3 percent in March 2022.

“Isang magandang ekonomiya. Makikita sa tatlong good news na ito na maayos na ekonomiya at isang napakagandang Duterte legacy na ipapamana ng Pangulong Duterte sa susunod na administrasyon (A good economy. It can be seen through these three good news that a good economy is the best Duterte legacy that the next administration would inherit),” Andanar said.

With more than a month left in his administration, Duterte’s economic team would ensure that the country’s economic rebound would be sustained until his last days in office, Andanar said.

“Itutuloy lang ng ating finance or economic cluster team kung ano ang ginagawa nito (Our finance and economic cluster team will continue what it is doing),” he said.

Thus, it would be easier for the next administration to further boost the Philippine economy, Andanar said.

“Ibig sabihin, tama ang ating ginagawa. Magandang transition ito pagdating sa economy dahil ang bagong administrasyon na papasok ay hindi sila magkandarapa na iangat o pataasin ang GDP dahil mataas na (Meaning, we are doing the right thing. It’s a good transition when it comes to economy because the next administration won’t struggle because our GDP already grew),” he said.

Former senator Ferdinand “Bongbong” Marcos Jr. is poised to win the presidential race, as he retained a wide lead over his closest rival, Vice President Maria Leonor “Leni” Robredo, according to a partial and unofficial count of votes.