So far, the Philippine economy has been among the best in Asia, expanding at a faster-than-expected 6.5% in the second quarter, and the economy is projected to maintain its current pace of growth through 2018. The smooth growth of the economy is partly attributed to Duterte’s decision to hand over most responsibility for economic policy to the respected finance minster, Carlos Dominguez.
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Looking ahead, some analysts anticipate increased interest from international funds for Philippines market exposure as investors hunt for yield.
“We are long-term bullish,” Arthur Kwong, head of Asia Pacific equities at BNP Paribas Asset Management, which has an overweight position on Philippine stocks, told the WSJ. A growing reputation for business-process outsourcing and tourism, along with rising domestic spending and a large working-age population, make the country “a natural choice” for investment, Kwong added.
For more information on the Philippine market, visit our Philippines category.