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FORBES: Data show Filipnos are doing better economically under Duterte

The average Filipino is doing better under President Duterte.
When it comes to per-capita gross domestic product (GDP), that is. That’s a measure of the total output of a country divided by the number of people in that country.

The Philippines’ per-capita GDP was last recorded at an all-time high of 2,891.36 U.S. dollars in 2017, according to Tradingeconomics.com. That’s well above the average of 1,627.98 USD for the period 1960-2017.

Duterte took office in 2016.

Also, Filipinos are doing better under Duterte when per-capita GDP is adjusted by purchasing power parity (PPP). That measure, too, reached a record 7,599.19 U.S. dollars in 2017, well above the average of 4969.71 USD for the period 1990-2017.

To be fair, comparing per-capita GDP in USD for different time periods is a tricky exercise. Numbers can be distorted by population growth and currency fluctuations. For instance, the climb in the Philippines per capita GDP has been helped by a slow-down in population growth.

Macroeconomic stability has helped the Philippines economy demonstrate a great deal of resilience in recent years. At the end of 2017, it grew at an annual 6.9% in the September quarter. That’s the strongest growth since the third quarter 2016. And the Philippines’ economy was still growing at 6% at the end of 2018.

Meanwhile, a recent McKinsey Global Institute (MGI) study places the Philippines among the few emerging market economies that are well-prepared to achieve sustained growth over the next decade.

That’s thanks to a rise in gross fixed-capital formation (investment). It reached 695,414.08 PHP million in the second quarter of 2018 from roughly 450,000 PHP million in July of 2015–well above the 303,138.16 PHP million for the period 1998 until 2018, and an all-time high.

Filipinos are certainly happy with how Duterte is leading them. Proof? According to the most recent poll, Filipinos just gave Duterte a soaring performance rating.

FORBES: Data show Filipnos are doing better economically under Duterte FORBES: Data show Filipnos are doing better economically under Duterte Reviewed by AsianPolicy.Press on 5:59:00 AM Rating: 5

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