A JAPAN-BASED credit rating agency on Wednesday announced an upgrade for the Philippines, citing the country's fiscal gains and economic growth.
A JAPAN-BASED credit rating agency on Wednesday announced an upgrade for the Philippines, citing the country's fiscal gains and economic growth.'The Philippine economy has been showing fast growth among the major economies in Southeast Asia,' Rating and Investment Information Inc. said in a statement.
It noted that the country's fiscal balance, which worsened during the Covid-19 pandemic, had improved and that the government debt ratio was likely to start declining within a year or two.Current account deficit and external debt levels were said to be manageable, with limited external concerns, and the banking sector also remains stable.
R&I Upgrades PH Credit Rating To A- With Stable Outlook
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