'Duterte magic': 10-point socioeconomic agenda

MANILA, Philippines — The incoming Duterte administration recently released its 10-point socioeconomic agenda, presenting it to the business community at a two-day conference in Davao City on Monday.

The agenda was expanded and revised from an earlier announced eight-point economic plan.

Duterte's camp said investors have welcomed the key socioeconomic areas as shown by stock market performance since last month's elections.

"Higher net foreign buying in the local bourse over May-June period is testament to resurgent investor confidence in the Philippines," said Paola Alvarez, incoming spokesperson of the Department of Finance.

READ: Done with Aquinomics? Here comes 'Duterte magic'

But not all experts are convinced. Nicholas Antonio Mapa, economist at Bank of the Philippine Islands, was not impressed, saying the recent local stock market rally is not isolated.

"Pronouncements by (Ms.) Alvarez are obviously fallacious as foreign buying has been in the net positive for the region, save for Japan," he said in an e-mail. — Philstar.com with reports from Prinz Magtulis; Infographic design by Jonathan Asuncion