President Rodrigo Duterte said yesterday he is not worried about turning off European and American investors with his foul mouth as he can always turn to China and Russia for investments.
“They make an issue of my mouth. They always complain about my mouth. I do not care if they do not invest here. They can all go away, I can go to China, I can go to Russia. They are waiting for me,” the President said in remarks before policemen at Camp Alagar, the regional police command in Cagayan de Oro City. “Wala akong pakialam sa inyo (I don’t care about you),” he added.
He was referring to the S&P Global Ratings' expressing its concern over diminishing predictability of government economic policies. But despite its concern, S&P affirmed on Wednesday that the Philippines' long-term credit of 'BBB' and short-term credit rating of 'A-2,' with a stable outlook.
Duterte said that the Philippines is formulating "a new foreign policy," shrugging off S&P's concern.
Cabinet members also disputed S&P's assessment but were nevertheless more diplomatic about it.
Presidential Communications Secretary Martin Andanar said the S&P assessment “gives the government greater resolve to make the economy growth robust, sustainable and inclusive.”
According to Andanar, the President's commitment in the anti-illegal drug campaign and criminality will enhance the country's image to attract more foreign investments. "Peace and order is a must for investors to invest more in the country," he added.
The President even joked about preferring to go to Asian countries where there is bountiful and lavish served food.
Despite China's seizure of areas clearly within Philippine territory, Beijing has never been at the receiving end of Duterte's vitriol.
The National Economics and Development Authority (NEDA) yesterday also downplayed concerns raised by S&P Global Ratings, saying that the administration has been very clear about its growth plan under its 10-point economic agenda.
Rolando Tungpalan, NEDA deputy director general for investment programming, said that as far as economic policy is concerned, the Duterte administration remains focused on its strategy for making economic growth more inclusive.
Source: Philippine Star
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