‘Lack of investors worries Metro folk’

People in Metro Manila appeared to be most concerned about the foundering economy followed by the juetengate charges facing President Estrada.

In particular, Metro Manila residents are more worried that the economic growth is slowing down because investors have no confidence in the President, according to results of the latest tracking survey by Pulse Asia called Project JEST.

The survey, commissioned by The STAR, was conducted between Nov. 17 and Dec. 10. In that poll, the respondents were asked which two issues troubled them most.

About 32 percent said the investors' lack of confidence in the Chief Executive worries them most.

Businessmen have been expressing apprehension over Mr. Estrada’s style of governance, especially after Ilocos Sur Gov. Luis "Chavit" Singson exposed the President’s links with illegal gambling bosses early in October.

Since then, businessmen led by the influential Makati Business Club as well as members of non-government organizations have been holding street protests calling for Mr. Estrada’s resignation.

Economic Planning Secretary Felipe Medalla had predicted that if the political uncertainty stretches beyond June 2001, the growth of the country’s gross domestic product could fall to two percent and inflation rise to as high as eight percent, with benchmark 91-day Treasury bill interest rates ranging from 16 to 18 percent.

"If violence breaks out … then perhaps we can look at worse numbers than this," he said.

Another issue over which Metro Manila resident expressed concern is whether Mr. Estrada received jueteng money.

About 30 percent said they were worried over this issue. Twelve days earlier, 45 percent of those polled were concerned over reports that Mr. Estrada received payola money.

The third issue that concerns most Metro Manila residents is their perception that Mr. Estrada "is not being given justice because they already judged him to be guilty when the charges against him have not yet been proven to be true." Twenty nine percent of those polled gave this remark.

Meanwhile, 22 percent said "most of the Chief Executive’s friends and regular companions are supposedly ‘cronies’ … who cannot be trusted."

Another concern raised by those polled is Mr. Estrada’s supposed immorality and his having many families. Eighteen percent agreed to this problem.

The same number of respondents said the President "is supposedly engaged in graft and corruption with public funds" and that "he has lost the capacity to govern the country."

Ten percent said his style and work habits do not befit that of a president.