Credit rating boost result of admin’s commitment to fiscal discipline

By Wilnard Bacelonia, Philippine News Agency

Factors cited by the credit rating agency for the outlook upgrade include effective policymaking, fiscal reforms and above-average growth potential. (Pexels Photo)

MANILA – The recent affirmation of the Philippines’ investment grade rating of BBB+ and an outlook upgrade of “positive” from “stable” by Standard & Poor (S&P) Global Ratings” reflect the Marcos administration’s commitment to fiscal discipline and economic growth,” Senator Sherwin Gatchalian said on Friday.

In a news release, Gatchalian said the favorable outlook would result to more foreign investments in the country.

Factors cited by the credit rating agency for the outlook upgrade include effective policymaking, fiscal reforms and above-average growth potential.

“Despite political tensions, we are confident that the improved credit rating outlook would further enhance the country’s competitiveness as a destination of foreign investments supportive of economic growth and job creation for the benefit of our people,” Gatchalian said.

Gatchalian, who chairs the Senate Committee on Ways and Means, reiterated his full support to the administration’s economic agenda.

“The current administration has already made significant strides in advancing economic development over the past two years. We will continue to support and push for legislation that would advance the government’s economic agenda,” he said.

“Umaasa tayong tuloy tuloy ang paglago ng ekonomiya sa mga darating na panahon para sa kapakinabangan ng ating mga kababayan (We are expecting that the economy will continue to grow in the future for the benefit of our countrymen),” he added.