Teneo IntelligenceRoberto Herrera-Lim, managing director of Teneo Intelligence, believes conditions in the Philippines are “good enough” for the country to continue growing its economy in the next 12 months.
Speaking to top executives and senior staff members at the economic and political briefing, which lays the groundwork for the annual budget process of the Lopez Group, Herrera-Lim noted the country’s strong macroeconomic management, limited exposure to global volatility and the absence of structural or systemic economic threats. He added that political and economic interests are broadly aligned in the Philippines, leading to better governance and the absence of polarization in society.
Nonetheless, Herrera-Lim underscored some risks on the horizon such as the slow implementation of infrastructure projects and the need for key reforms to continue despite the transition to a new leadership. The Philippines will elect a new president in May 2016. He also said the country must work on policy consistency, especially when judicial and regulatory processes are involved.
ASEAN economic integration will also highlight crosscountry issues such as health, environment, aging and social safety nets.
“We must anticipate demographic, migration shifts and a political demand for quality of life issues. Inequality is polarizing, therefore people must work to make success or progress accessible to all,” he said.
Among emerging markets, the Philippines, Vietnam and India are expected to weather the end of credit-fueled growth better than others.
Herrera-Lim has been covering political and business risk in the Philippines, Thailand, Vietnam, Indonesia, Malaysia, Singapore, Cambodia, Myanmar and Laos since 2002. (Story/Photo by: Carla Paras-Sison)