Pilipinas, nakitaan ng pagtaas sa economic growth at pagbaba sa deficit to GDP...

1 year ago

Pilipinas, nakitaan ng pagtaas sa economic growth at pagbaba sa deficit to GDP.;

DOF, tiniyak na hindi nakakaapekto ang political noise sa pagpasok ng investment sa bansa

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Transcript

00:00Following the rise of the country's credit rating from the S&P Global Ratings,

00:04what are the benefits of this and how does it affect the country's development?

00:09Let's find out in this episode.

00:14What does the S&P Global Rating of the Philippines, which is stable, mean,

00:18has risen to a positive rating?

00:20According to the Department of Finance,

00:21the country has gained a positive outlook or increased economic growth

00:25and benefits in other aspects such as a decrease in the Deficit to Gross Domestic Product or GDP

00:30within one to two years,

00:32wherein if the S&P Global Rating rises,

00:35the confidence of the credit rating agencies also rises

00:38which will result in the country being able to borrow money with a low interest rate.

00:41The DOF explains that there are three things that determine the rise of the credit rating outlook.

00:45First, how big the economy is,

00:48wherein the country's GDP rose by 6% under the Marcos administration.

00:52Second, the fiscal performance,

00:54whether the Deficit or the decrease in spending is decreasing compared to the growth of the economy.

00:59And third, the external and monetary,

01:02whether the country's inflation is within the target

01:04and whether the Philippines has sufficient international reserves in case of an economic shock.

01:09According to the DOF,

01:10the S&P Global Rating was also based on the laws passed under the administration of President Ferdinand R. Marcos Jr.,

01:15which facilitates the regulation of businesses

01:17and simplifies the payment of taxes by current and incoming investors in the country.

01:22So here in the S&P Global Rating's latest assessment,

01:25actually they cited the institutional strength of the Philippines.

01:29They saw that we have laws that passed the PPP law last year,

01:34and the one recently passed by the President, Create More.

01:37Meanwhile, along with the issues that the government is facing,

01:40the agency also emphasized that the political noise is not affected

01:44when it comes to incoming investments in the country.

01:46DOF Undersecretary Dominic Velasquez insisted

01:49that the Philippines has proven that it is not affected by any kind of disagreement in politics.

01:56But I think it doesn't really matter

01:59because we've proven ourselves that actually we're beyond this political noise.

02:03We're able to pass reforms.

02:05So here, we passed Create More.

02:07We're able to consolidate our finances.

02:11And that's why we have a positive outlook from S&P

02:17is because we have a track record that we're able to do this,

02:20whatever the political noise.

02:22For now, the Philippines is the second fastest-growing economy in the ASEAN regions.

02:26That's why DOF will continue their whole-of-government approach.

02:30Other agencies like the BSP, NEDA, ARTA, and others will continue to increase the country's credit rating.

02:37From PTV Manila, Joshua Garcia for Balitang Pambansa.

Pilipinas, nakitaan ng pagtaas sa economic growth at pagbaba sa deficit to GDP...

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