Stock market has risen 16 percent since Duterte took office

Philippine Stock Exchange President Hans Sicat said Thursday that the stock trading system has mobilized on good faith that President Rodrigo Duterte's unequivocal administration style will develop the economy. 

The Philippine Stock Exchange Index (PSEi) has risen 18 percent in the most recent twelve months, and in the most recent month since Duterte took office, the benchmark has risen 16 percent, Sicat told reporters. 


"The desire of the business sector is this will be an extremely transformational organization," Sicat said.

Photo by Rappler

"There's a conviction that the auxiliary changes that have been guaranteed will happen rapidly," he included. 

In his State of the Nation Address last Monday, Duterte guaranteed, among others, to understand handicapping gridlock conditions, lower salary charge rates and cut formality that has kept down development for quite a long time. 

Sicat said businesspeople were especially satisfied with Duterte's guarantee to respect government contracts. 

"That is an extremely crucial topic of how the business group works," he said. | ROD

Source: ABS-CBN News

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