Ateneo Eagle Watch holds 2016 elections briefing

With less than 4 months to go before the National Elections, the Ateneo Eagle Watch held a briefing on how the polls would affect the Philippine economy.  The discussion was held at the Ateneo Professional Schools Rockwell campus in Makati City on February 2, 2016. Economist and Eagle Watch Senior Fellow Dr. Alvin Ang and Philippine Star columnist Rose Fausto gave their insights on the state of financial market and guiding principles in choosing the country’s next president.

For this choice, Fausto proposed 3 guide questions that the voting public must ponder.  These include his or her vision for the country, how he or she could contribute to making this a reality, and who among the candidates could best lead the country in achieving that dream. 

 She also discussed the important traits to look for in a president:  integrity, competence, energy and ability to empower.  Everyone, Fausto said, should rate all candidates using these guidelines.

For his part, Ang projected economic growth in 2016, with an increase in the gross domestic product (GDP) of 6.4% (up from 2015’s 5.8%).   The government growth target for 2016 is pegged at 7 to 8 %. 
 
The National Elections in May would definitely bolster the gross domestic product (GDP), he added.  The highest expected growth, Ang said, would be in the second quarter at 6.72%.   However, he cautioned of a possible downturn in the third quarter as a result of the change in administration.

Despite this, Ang is bullish on the economy. The upturn, he said, is no longer driven by overseas Filipino workers. Instead, it is the business process outsourcing (BPO) sector that pushes the revenue.  
 
However, Ang is quick to point out that the new administration would face some serious issues, including climate change and global market volatility. The next administration should think of ways on how to improve the country’s inclusive growth as well as augment the Philippines’ share in the global supply chain. 

 In addition, the new administration should be able to sustain the country’s investment grade status, Ang said. A downgrade would have a bearing on the economy, he said.