The first State of the Nation Address (SONA) of President Duterte may have been peppered with ad libs and jokes, but this did not turn off businessmen and economists. On the contrary, they said they were “impressed” by the President’s plans to grow the economy in the next six years by providing a “more stable” environment where businesses can thrive.
“What really caught my attention was his emphasis on the pursuit of anything that will improve our lives within the bounds of the law. I think that impressed me the most,” UA&P School of Economics (SEC) Dean Dr. Cid Terosa said. “What I found lacking in the previous administration—the emphasis on the rule of law in the pursuit of economic prosperity—was strongly stressed this time.”
As for the President’s plan to continue the macroeconomic policies of the previous administration, Dr. Terosa said President Duterte’s team is aware that the country’s economy is doing well.
“With greater consumption, business and investment activities, more money can be raised by companies and individuals that may enable the government to pursue its plans. It can spur greater activity that can result to more revenues not necessarily coming from taxes,” he said. “I’m sure there will be additional taxes to cover some of the losses due to the decrease in income tax and corporate income tax, but these two reforms are very strong indications that he wants to create business activities and create jobs.”
Dr. Terosa also gave an interview to GMA News and Public Affairs in which he shared his input on the economic implications of the SONA. Watch the video below:
Read more at the Business Mirror:
- Businessmen, analysts laud Duterte’s Sona (July 25, 2016)