If you’d ask Senator Franklin Drilon, the lawyer, the country’s investment has dipped by 90% due to extra-judicial killings. However, according to Facebook user Ronald Ong, this is fake news!
A visibly irked Ong did an extensive research online collecting economic data to prove that Drilon was wrong and he has nothing in mind but to destabilize the Duterte government.
According to Ong, the economic picture that Drilon tried to project for the country is opposite of the realities in the ground. In fact, the country is seeing the economy grew in 2017 by leaps and bounds.
In June 29 report, the US State Department said that tHE PHILIPPINES has become “more attractive” to foreign direct investments (FDI).
You may read Ronald Ong’s post below.
EKONOMIYA naman daw ang bagsak kasi Foreign Direct Investments went down daw by 90%. It sets fear into motion, especially among those not versed in economics. MGA BWISIT NA DESTABILIZERS! 👿👿👿
. . . . .
FAKE NEWS ANG 90% … ANG TOTOO 38% LANG ANG DIFFERENCE! AT ANG TOTOO ANGAT PA ANG EKONOMIYA!
Though FDI decreased Q1 and Q2 . . . Ang hindi nila pinapakita is that the administration has tapped into local investors and not just foreign investors at eto ang katotohanan:
– Q1 of 2017 Approved investments (both foreign and Filipino) grew by 21.8% and reached P121.5 Billion from P99.7 Billion Q1 of 2016. (PSA June 15, 2017)
– Q2 of 2017 Approved investments (both foreign and Filipino) grew by 29.7% and reached P230.5 Billion from P212.3 Billion Q2 of 2016. (PSA Sept. 15, 2017)
And take note: Ang pinakamalaking halaga ng FDI for 2016 is under Duterte in Q4 – P125,694 Billion!
At eto pa ang ibang indicators:
FDI: THE PHILIPPINES has become “more attractive” to foreign direct investments (FDI), the US State Department said in a June 29 report. The Bangko Sentral ng Pilipinas projects FDI net inflows to hit $8 billion this year, slightly more than 2016’s record $7.93 billion. (Business World July 2017)
BANKING: Fitch Group unit sees 15% loan growth until 2019. The dynamics of Philippine banks remain healthy according to BMI Research (a leading Global Market Analysis), prompting the Fitch Group unit to keep a positive outlook on the industry as the Philippine economy was likely to maintain its robust growth. (Manila Times 10/2017)
GDP: Gross domestic product growth is expected to hit 6.2 percent per year, thanks to strong demographic trends that will support savings, increased productivity because of continued business and tax reforms, and strong government initiatives to invest in infrastructure. (Manila Times 10/2017)
STOCKS: Stocks soar to new all-time high
The main-share Philippine Stock Exchange index (PSEi) rallied 91.03 points to touch an all-time high of 8,144.91, and was headed for its third straight session of gains. Yesterday’s close was the highest closing level since April 10, 2015 when the index closed at 8,127.48. (Philstar Sept. 15 2017)
INFRASTRUCTURE: The Philippines has never reached the 5 percent of GDP threshold for infrastructure in the last 30 years. But this year it did. This with the Duterte Administration embarking on a bold ‘Build, Build, Build” program. This will usher in the “Golden Age of Infrastructure”, the boldest infrastructure development program in recent Philippine history. (Business World June 2017)
TOURISM: Tourist arrivals to Philippines rise 14 percent in first five months of 2017. International tourist arrivals to the Philippines rose more than 14 percent in the same period a year ago to 2.8 million visitors from January to May 2017. (CNN Philippines July 2017)
EXPORTS: Based on data from the Philippine Statistics Authority (PSA), exports grew 12.1 percent to $4.805 billion. The Philippines’ wide range of products is seen to boost the country’s exports, according to the Department of Trade and Industry(DTI). (Philstar June 2017)
PEZA: PEZA investment approvals up 94% in first nine months. Investment approvals of Philippine Economic Zone Authority (PEZA) in the first three quarters of the year reached PHP196.46 billion, up 94 percent from PHP101.20 billion in the same period in 2016. PEZA Director General Charito Plaza said developments of new economic zones have driven the increase in investment approvals in January to September 2017 period. (PTV 10/2017)