IT40 News for 09/08/2018

#26 Duterte blames ‘friend’ Trump for Philippines economic woes

© Provided by AFP
Duterte, who has previously admitted he is not well-versed in economics, did not elaborate on his claims

Philippine President Rodrigo Duterte on Saturday blamed US President Donald Trump after inflation hit a nine-year high in the Philippines, hurting the image of the populist leader.

It was an unexpected claim from the fiery Duterte, a one-time fierce critic of the United States but who has since embraced Trump after the business tycoon was elected in November, 2016.

When questioned by reporters about the 6.4 percent inflation in August, a nine-year high that exceeded most analysts' forecasts, Duterte blamed Trump's economic policies.

"Who started it? America. When America raised its rates, everyone raised theirs as well. That is how it is. There is nothing we can do," he told reporters.

"Because America... Trump wanted it. Even taxes like excise tax, they raised it. Even import dues," Duterte said.

... To Read more, please click here

This post was created with our nice and easy submission form. Create your post!

Hits: 0

What do you think?

Written by top40

Founder of

top40 obamaspeech #1 9-8-18 PPT

IT40 Trending People, Places & Things for 09/08/2018

top40 elonmusk #1 9-8-18 TIV

IT40 Trending instagram Media for 09/08/2018