Palace: No correlation between human rights, economy
MANILA, Philippines — Malacañang on Tuesday said human rights concerns raised by “detractors” of the Duterte administration were not hurting the economy, adding that investor sentiment remains favorable for the Philippines.
“There is no direct correlation between human rights and the economy, as some quarters particularly two international lawyers groups would like to point out,” presidential spokesman Salvador Panelo said in a statement.
“While we continue to adhere to the rule of law and uphold international humanitarian law and the protection of human rights, the critics and the detractors of the administration continue to vilify the president and the government, even raising the issue of human rights in connection with the drug war to other issues such as trade, business and the economy,” he added.
Panelo said he was responding to claims made by international groups of lawyers that the Philippines’ foreign investments “have been or will be adversely affected” by the issues on human rights and extrajudicial killings.
“As our economic managers succinctly expounded, foreign investments are anchored on principal considerations, they are: macroeconomic fundamentals, no or minimal restriction on foreign equity on investment areas and activities, ease of doing business, good infrastructure, non-restrictive labour laws, and consistent policy milieu,” he said.
President Rodrigo Duterte, a former city mayor, beat his more moneyed rivals and won the race to Malacañang in 2016 promising to eradicate crime and solve his country’s drug menace in three to six months.
But human rights watchdogs at home and abroad say most of the fatalities in the government’s anti-narcotics drive are extrajudicial killings committed by cops, accusing Duterte of inciting violence and “steamrolling the rule of law.”
Data from the Bangko Sentral ng Pilipinas show foreign direct investments net inflows ended last year at $9.802 billion, down 4.4 percent from the $10.256 billion received in 2017.
It was the first drop of such inflows in three years. The amount is also lower than the $10.4 billion net inflows which the central bank expected for the full year.
Meanwhile, the economy grew 6.2 percent in 2018, below the state’s 6.5-6.9 percent goal for the year and the weakest in three years amid high inflation.
Last year, London-based Capital Economics said the "much bigger concern" for the Philippine economy over the long term is “a string of inflammatory comments and policy changes by Duterte that have raised concerns in the minds of investors over the president’s judgement and commitment to the rule of law.”
“The president’s war on drugs, which has claimed an estimated 20,000 lives, has generated negative headlines across the world... The Philippines’ own history shows how poor leadership and political uncertainty can hold back an economy,” it added. — Ian Nicolas Cigaral
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