This report by Jocelyn Montemayor in Malaya:
For reactions- Malacañang and opposition – to PERC survey, click here.
Foreign businessmen perceive the Philippines as the most corrupt economy in Asia, a survey conducted by the Hong Kong-based Political and Economic Risk Consultancy (PERC) showed.
President Arroyo shrugged off the results of the survey that said the Philippines “has the distinction of being perceived in the worst light this year,” edging out perennial bottom dweller Indonesia.
The survey was conducted in January and February covering 1,476 foreign business executives from 13 countries and territories.