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Bottom line: Duterte says commodity of crisis cripples PH

Plus, housing prices up 9.2% in Q1 2016.
By Entrepreneur Staff |

In case you missed these two news items over the weekend:

 

Duterte victory party
VICTORY SPEECH. President-elect Rodrigo Duterte delivers a freewheeling speech during his victory party on Saturday, June 4 at Davao City. Screen grab from People's Television Network live stream

 

 

‘Commodity crisis’

The Philippines is at the mercy of Southeast Asian countries that export rice, coffee, banana, among other agricultural products, said President-elect Rodrigo “Rody’ Duterte in his freewheeling speech during his victory party in Davao City on Saturday, June 4.

 

Related: Duterte's priorities: Agriculture, education, health, MSMEs


The country is at the mercy of multinationals, he added and that the country is not ready for the World Trade Organization. Mining must stop as well as it harms the environment, he added.

 

He also reiterated his fight against corruption; illegal drugs; and improve collections at the Bureau of Internal Revenue and the Bureau of Customs.

 

"There is really so much misery in our country today. We have really the money if we just collect it and spend it correctly," he said.

 

 

New PH real estate index launched

The Bangko Sentral ng Pilipinas (BSP) launched on Friday, June 3 the Residential Real Estate Price Indices (RREPI), a first for the country, which showed that housing prices rose 9.2% in the first quarter of 2016.

 

In particular, there was a spike in prices of condominiums, which are preferred particularly in the National Capital Region (NCR) for they offer accessibility amid the worsening metropolis vehicular traffic.

 

BSP added there is no asset bubble for now, but noted that because the sample size is still small (four quarters from second quarter 2015 to first quarter 2016, it is hard to establish a real trend using the data. – Lynda C. Corpuz

 

Filipino farmer photo from JICA website

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