Who cares what media says? Goldman Sachs loves ‘decisive, strong-willed’ Duterte
American investment banker Goldman Sachs is bullish on the incoming administration of President-elect Rodrigo Duterte.
In a report by Bloomberg, Goldman Sachs economist Matthieu Droumaguet reported that that the irrepressible and irreverent Davao City mayor and his promise of massive infrastructure spending, cutting red tapes and boosting farm spending could be a catalyst for higher economic growth for the country.
“We believe that these proposals, provided they are successfully implemented, could further brighten our already positive macroeconomic outlook for the Philippines,” said Dromaguet.
Goldman Sachs officials recently visited Manila and got mostly positive feedback on Duterte specifically for being “decisive,” having a “a strong political will,” and willingness to delegate.
“His incoming administration sketches an economic agenda conducive of market-friendly growth-oriented policies, which are likely to continue to fuel the secular growth story of the Philippines,” the bank said.
“The cabinet formation, optimism of the business community and early pronouncements are all indicative that the upcoming administration will conduct growth-oriented and business-friendly policies,” said Dromaguet.