Philippines: investment grade but could do better

Manila’s business elite give outgoing Philippines president Ninoy Aquino a B+ for economic management.
The Philippines has flourished under President Benigno Aquino but some of his election promises remain unfulfilled
The Philippines has flourished under President Benigno Aquino but some of his election promises remain unfulfilled

When Benigno “Ninoy” Aquino III hands administration of the Philippines to a new president in May next year he will be leaving behind an economy in good shape. Since assuming the presidency in 2010 the populist leader has guided the country to greater prosperity by eschewing the privileges of office and rejecting corruption.

According to World Bank and World Economic Forum rankings, the Philippines is now more transparent, more competitive, and more business friendly than it was five years ago. Annual economic growth between 2010 and 2014 averaged 6.2%, making the Philippines the second-fastest growing economy next to China out of 57 countries surveyed by Bloomberg. Foreign direct investment in...

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