00:00The country's economic managers are urging the country to increase the credit ratings of the Philippines
00:05because they expect it will help the country's economy to continue flourishing.
00:10The details are in the news report of Kenneth Paciente of PTV Manila.
00:17The government believes that the country's economy will continue to flourish
00:20under the administration of President Ferdinand R. Marcos Jr.
00:24That is after the S&P Global Ratings upgraded the economic outlook of the Philippines
00:29to positive from the previous stable.
00:31The country also maintained its BBB Positive Credit Ratings.
00:35This became the mark of the S&P in the country
00:38because it saw earnings such as the above average growth potential of the Philippines,
00:42the implementation of effective police and fiscal reforms,
00:46as well as the improvement of the country's infrastructure and policy environment.
00:50According to the DOF,
00:52because of this mark, the Philippines will have greater access to cheaper
00:56and cost-effective expenses in lending to the government and the private sector.
01:02The reason is so that the government's project funds can be used
01:06including infrastructure, healthcare, education, and others.
01:10This is just a proof that investors have great confidence
01:14in the run of the Marcos Jr. administration in the country's economy
01:18because of its stable economic environment.
01:20The DOF also believes that there will be additional upgrades to the country's ratings
01:25in the coming time,
01:27which was approved by the government's economic managers.
01:30According to them,
01:31the administration is determined to increase the country's rating to A
01:36and they believe that it can be used without affecting the country's political challenges.
01:41According to the group,
01:43it is possible for the country to reach this within two years.
01:46They also believe that this development reflects that the country's fiscal consolidation plan is on track.
01:52They also believe that the create more law and public-private partnership law
01:58were approved by the President.
02:00This is just a proof of the country's stability in the face of challenges
02:05such as calamities, geopolitical tensions, and others.
02:08The economic managers also believe that business as usual is the government
02:12in the face of the current issues.
02:15They will help the various branches of the government towards the prosperity of the country.
Comments