Ruffy Magbanua OVER lunch, I had the opportunity to join a small group and listen to the economic forecast of Dr. Bernie Villegas, one of the country’s respected economists, thinkers, and writers. Villegas, an optimist and  believer of good karma, started his talk by urging everyone to work for the common good under the new administration. Currently the senior vice president of the University of Asia and the Pacific, Villegas admitted though he did not support Duterte’s bid for the presidency. He did not elaborate. In his trademark classroom-type lecture, Villegas painted a positive economic outlook under the Duterte administration, saying  the country’s 6-7 percent GDP growth rate is sustainable, and even seen to grow further up to 12 percent annually. As someone who has been “copying” since he was in grade school, incoming President Rody Duterte would likely copy the examples of the tiger economies like Singapore, Taiwan, Hong Kong and South Korea. The GDPs of these economies grew at 12 percent annually for more than a decade because they allowed market forces to operate side by side with strong government intervention. In truth, Villegas says, even if we have Vice Ganda or Maine Mendoza as our president and do nothing but wag, still the nation’s economy will grow, citing among others the $22 million annual remittances of OFWs and the $22 million BPO earnings. Add to these are the significant contribution of some 40 million domestic tourists moving around the country annually. The removal of restrictions in the manufacturing and food sectors, world-class infrastructures, and improved telecommunication facilities are key areas for the Duterte economic team to consider in the 10-point socio-economic agenda upon the  assumption of the new president on June 30. Duterte wants to remove the restrictive economic provisions in the 1987 Constitution in order to attract more foreign direct investments. He wants more private participation in the construction of infrastructure projects by addressing bottlenecks in the implementation of the public-private partnership program. Duterte is not a socialist, Villegas says, but a social democrat along the lines of the social market economy of the Federal Republic of Germany.  Villegas was even more convinced that Duterte is far from being a socialist. He says Duterte has no intention to nationalize strategic industries, distribute more private lands to small farmers, or increase both the fiscal deficit and national debt of the government. On the contrary, Duterte wants to continue and maintain the very prudent macroeconomic policies of the Aquino administration, which leftists refer to derisively as “neoliberal.” Duterte believes that the government has to be strongly interventionist in areas where markets fail saying that the state has some indispensable roles to play in society. The state must be responsible for keeping peace and order, administering justice, constructing public works, and delivering social services especially to the poor. The state must be responsible for keeping peace and order, administering justice, constructing public works, and delivering social services especially to the poor. That is why Duterte wants to pursue a genuine agricultural development strategy that will depart from the simplistic approach of land redistribution. He wants to focus on providing support services to the small farmers who have been the beneficiaries of the first phase of agrarian reform. He wants to address bottlenecks in land administration and management systems. Duterte intends to improve the income tax system to make it progressive as well. Because of his genuine concern for the poorest of the poor, Duterte is seen  to continue a program that dates back to the Arroyo administration: the conditional cash transfer program. Aside from suppressing crimes, illegal drugs and corruption, the establishment of rural health clinics, reduction of maternal mortality and the provision of potable water in the barangays are also areas of concern for the Duterte administration to consider very  seriously. Moreover, Villegas acknowledges that the best service the new dispensation can give  to the poorest of the poor is to provide free access to quality basic education. Interesting times? We’ll see after June 30. The best is yet to come for the good. For the bad, their days are numbered. E-mail: ruffy44_ph2000@yahoo.com