‘Economy’s downside risks have increased’

President Rodrigo Duterte’s “erratic and crass style” is a cause for concern, his pronouncements in recent weeks increasing downside risks to the strong growth outlook for the Philippines, the London-based research consultancy firm Capital Economics said.

“When Rodrigo Duterte became president of the Philippines on 30th June, we warned that although the fundamentals were in place for the economy to grow strongly, his election had made the outlook much less certain,” Gareth Leather, economist at Capital Economics said in a report released late Monday.