News Analysis: Philippine presumptive president will bring change, but it's too early to say how big

Just two days after claiming presidential victory, Davao City Mayor Rodrigo Duterte unveiled possible members of his cabinet as well as possible policies in a move to gain confidence from the public.

During campaign period, public's desire for change has been very high due to long-standing poverty, corruption and public security crises. To them, the 71-year-old mayor embodied the hope of change.

"Duterte is a strong-willed leader with outstanding track record in Davao, and he can address the now bad peace and order situation, huge rich-poor gap and rural development and infrastructure needs," said columnist Wilson Lee Flores.

Flores' views are shared by many, but some analysts have warned of danger of blind optimism. They said the presumptive president will bring change to the country, but it is premature to say how big or radical the change may be.

"The emotional voters fail to see Duterte has only offered vague and generic promises," said Richard Heydarian, professor at De La Salle University.

Heydarian, also a political adviser, said Duterte has raised public's expectations so high that he has to find some way to manage them.

Duterte became Davao City mayor in the 1980s and has since held the post for seven times.

Once notorious as the nation's "murder capital" in southern Mindanao region, Davao is now one of the country's safest cities under his rule.

During the presidential campaign, Duterte made promises to wipe out corruption, criminality and drugs in three to six months after he takes office.

Duterte clearly understands the importance of reassuring the public of his competence in sustaining current economic growth as well as his sophistication in handling multifaceted domestic issues.

Prior to the election, investors have expressed concerns over his lack of economic experience. But Wednesday's markets showed otherwise.

The country's benchmark stock index closed 3.09 percent higher on Wednesday, posting highest close since August 2015. The Philippine peso rose the most in six weeks and the currency also strengthened versus all of its ten Asian peers.

Duterte has hinted his cabinet appointees, some being seasoned business people and technocrats.

He told reporters in Davao Monday that he is eyeing hotel owner Carlos Dominguez to be his secretary at the Department of Finance or Department of Transportation and Communications.

Duterte also said he would appoint as his peace adviser his former classmate and fellow Davaoeno, Jesus Dureza, who served as the peace adviser and press secretary of former President Gloria Macapagal-Arroyo.

Other possible cabinet appointees include Senator Alan Peter Cayetano to head the Department of Foreign Affairs, and former Armed Forces of the Philippines chief of staff Hermogenes Esperon Jr.

Dominguez and Dureza are very experienced, according to Jonathan Ravelas, chief market strategist at BDO Univank Inc. in Manila.

"Their expertise is more of grass-root economics, they know the local front, what is lacking on the ground," Ravelas said.

"Duterte is a nationalist who will uphold an independent foreign policy, which can make the country good friend to all major powers," said Flores, who added that the country would benefit more economically in this way. Endit