汇丰银行-菲律宾经济-philippine economics comment-20170721-hsbc.pdfVIP

Economics - Data Reactions 21 July 2017 Philippine Economics Comment Joseph Incalcaterra SONA preview Economist The Hongkong and Shanghai President Duterte will deliver his second State of the Nation Address (SONA) on Banking Corporation Limited Monday July 24 at 4pm. It will serve as an important roadmap for the +852 2822 4687 joseph.f.incalcaterra@.hk administration’s economic plans and a litmus test of its commitment to reforms. As a candidate, President Duterte laid out a wide-ranging economic reform plan. View HSBC Global Research at: Two of his most significant proposals, tax reform and increased infrastructure spending via the national budget, are already being carried out, albeit the legislative process has moved slowly and the government has under-spent its Issuer of report 2017 budget in the first few months of the year. In the SONA, we will look out for The Hongkong and Shanghai