PH economy under Duterte administration
- 3 years ago
From President Noynoy Aquino’s administration to the early days of Rodrigo Duterte’s presidency, investors branded the Philippines the “Darling of Asia.”
Duterte’s economic team was confident the Philippines was on the road to upper middle-income status by 2022, which means Filipinos’ economic well-being will be at par with China, Indonesia, Malaysia or Thailand.
But with the COVID-19 pandemic casting a dark cloud, that dream of a better life for Filipinos now seems to be simply aspirational.
Duterte’s economic team was confident the Philippines was on the road to upper middle-income status by 2022, which means Filipinos’ economic well-being will be at par with China, Indonesia, Malaysia or Thailand.
But with the COVID-19 pandemic casting a dark cloud, that dream of a better life for Filipinos now seems to be simply aspirational.