MANILA - Philippine investors are lukewarm to the prospect of a Ferdinand"Bongbong" Marcos presidency, with Vice President Leni Robredo emerging as their top pick to oversee an economic rebound, according to a Bloomberg poll.
Robredo, who trails Marcos in most voter surveys for the May 9 presidential election, has pledged to prioritise stamping out corruption and enabling pandemic recovery and job creation. Marcos, the son and namesake of the late dictator who ran the Philippines when it declared bankruptcy in 1983, vowed to bring back jobs and support small businesses, aid the farm sector, improve traffic flow on Manila's roads, and fight communist insurgency.
"What we need is a captain who will bring us out of the storm," said Jonathan Ravelas, chief market strategist at Philippines largest lender BDO Unibank."The next leader must be able to address the economic and social crises we are confronting, to put us back on the path to faster growth. How our markets will perform will depend greatly on that."
"If is elected, it would only reinforce our view that the economy will continue to underperform over the coming years," Alex Holmes, Asia economist at Capital Economics, wrote in a February note, citing his tax case and a lack of achievements when he was senator. Marcos' camp said he's qualified to be president despite the tax conviction.
Source: Financial Digest (financialdigest.net)
straits_times Momentum is in Robredo's favor now.
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