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Opinion

More Duterte fallout on the Philippine economy

Economic managers grapple with erratic and populist policies

| Philippines
Abrupt policy changes and other moves fermenting investor distrust are hurting the Philippine economy.   © Reuters

Two years into Rodrigo Duterte's presidency, the Philippines' once-celebrated economy is beginning to display vulnerabilities. Inflation has breached the government's target, the peso is in free fall, and the country is suffering its largest current-account deficit in 18 years.

Amid deepening concerns over the rule of law as well as regulatory predictability, foreign investors remain unenthused. Western investors have described the Philippines as a "tough sell," thanks to Duterte's unpredictable policies, including the sudden shutdown of the resort island of Boracay this year, and the persistence of extrajudicial killings and corruption.

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