Business sector calls for stability amid political turmoil
Investors are generally more concerned about economic reforms continuing to move forward despite political tensions. ‘What’s really important is that priority reform measures are on track and not distracted by political noise,’ said RCBC chief economist Michael Ricafort.
RCBC chief economist Michael Ricafort, reacting to developments in the House, with the majority voting to impeach Vice President Sara Duterte for the second time even as a majority in the Senate replaced Senator Vicente Sotto III with Senator Alan Peter Cayetano as Senate President, reminded politicians that legislative predictability and governance reforms are what matter to foreign investors looking at the Philippines as a viable long-term investment hub.
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