Noy's 1st 100 better than 3 past admins - economist

MANILA, Philippines - Compared to other three presidents before him, President Aquino’s first 100 days could be rated “okay” as financial markets “uniformly and unequivocally point to better times ahead.”

Economist and Albay Gov. Joey Salceda said amid negative opinions on Aquino’s performance within the 100 days in office, the “judgment by financial markets speaks distinctively as the peso strengthened.”

He said the peso went strong in the first 100 days of Aquino at +5.5 percent, compared to that of former President Fidel Ramos recorded at +1.85 percent, while the other two ex presidents Gloria Macapagal Arroyo and Joseph Estrada posted negative scores of 3.53 percent and 3.92 percent, respectively.

In the other key indicator of business confidence — the Phisix, Salceda said only the P-Noy administration advanced to positive territory at 22 percent in the first 100 days, followed by Ramos, but still negative at nine percent, Arroyo at – 18 percent, and Estrada at –28 percent. 

Salceda, a former Malacanang economic adviser, noted that the robust markets suggest there is fuel and firepower for Philippine growth and it is now the turn of the administration to pull the trigger and rev up the engines to use such fuel to spur the growth of the national economy.

The 100 days of a new administration, he pointed out, is however a short period since it is just settling down and setting benchmarks: There are no GDP (gross domestic product) and CPI (consumer price index) figures for which it can be held accountable. A comparative listing of policy initiatives would also be difficult since new administrations face hugely disparate policy imperatives, Salceda explained.

He, however, stressed there must be an objective yardstick to measure the performance of an administration in its first 100 days. “Since punditry is based on opinion, then one can very well match opinion with opinion, in this case the opinion of the financial markets which are more receptive to analysis,” he suggested.

He said the PNoy administration’s first 100 days are affirmatively auspicious, but the next 100 days are even more critical in determining how it will convert the strong financial markets into programs and projects that will prompt positive consequences in the lives of ordinary Filipinos who have pinned their aspirations for a better life on his leadership.

Based on objective measurements, Salceda said the PNoy government has bested the past three administrations before it.

On a three-scale rating: “OK na OK,” “OK LANG,” and “HINDI OK,” PNoy certainly gets “OK na OK,” he said.