My country will have its presidential election a couple of days from now. It's gonna be on Monday, May 9. All the surveys are pointing at the son of the infamous dictator Ferdinand Marcos Sr. and Imelda Marcos as the potential winner. The result is more or less expected to be a landslide victory for the only boy of probably the most hated couple in Philippine history. Second in the surveys is the current vice president, but she's trailing too far behind.
Things could have been easily acceptable since
the voice of the people is the voice of god. However, it somehow causes anxiety and worry when the choice of the general populace is not the choice of investors, the sector that plays a very vital role in the country's economy. To make things worse, not only is the namesake of the old dictator not the choice of the sector that creates assets and employment, he is the least of the choices, together with the boxing legend, Manny Pacquiao.
[1][2] So far, the country's currency has experienced a three-year low, partly due to election concerns.
[3] The stock market is also going down.
[4] And while there is the prospect of a nice ROI months after the elections, this one is a bit different. Not only are the investors wary of the next possible administration, there is also high inflation, a pandemic, and a war far away yet affecting the domestic economy.
[5]N.B.: This isn't a political discussion.
[1]
https://www.bworldonline.com/the-nation/2022/03/13/435503/investors-lukewarm-to-marcos-presidency/[2]
https://www.bloomberg.com/news/articles/2022-03-13/marcos-nears-bottom-in-philippine-markets-poll-favoring-robredo[3]
https://www.thestar.com.my/aseanplus/aseanplus-news/2022/05/04/philippine-peso-falls-to-three-year-low-on-fed-election-worries[4]
https://tradingeconomics.com/philippines/stock-market[5]
https://www.bloomberg.com/news/articles/2022-05-06/presidential-elections-spell-fat-philippine-stock-returns