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Corruption Trounces Inflation as Top Economic Risk for Philippines, CEO Poll Shows

For Philippine business leaders, corruption is the top risk to economic recovery, trumping inflation and rising oil prices, according to a survey released Monday.

A survey conducted by the Management Association of the Philippines with PwC showed that 67% of CEOs say corruption could delay economic recovery, while lower investments and political uncertainty are next among their worries. Less than a third of the CEOs cited “uncontrolled inflation” as a recovery threat.