Marcos: PH to benefit from R&I credit rating upgrade

The country’s newest rating from Japan-based credit watcher Rating and Investment Information (R&I) will be beneficial to the country, President Ferdinand Marcos Jr. said on Saturday.

“Nagpapatunay po ito na malakas ang kumpiyansa ng mga investor sa sigla ng ating ekonomiya. Ang upgrade na ito ay upgrade rin sa buhay ng bawat Pilipino,” Marcos said in a statement.

(This demonstrates the high level of investor confidence in the state of our economy. This upgrade also signifies an upgrade in every Filipino’s life.)

According to Marcos, the rating would help bring down borrowing costs and secure affordable financing for Filipinos.

“This will help us invest more in our people, paving the way for more Carlos Yulos in the near future,” he said, referring to the double Olympic champion in men’s artistic gymnastics at the 2024 Paris Games.

Marcos said an improved credit rating would help the Philippines gather more investments and generate jobs.

“We will keep giving our best to make sure that every Filipino benefits from economic growth until we break the cycle of poverty,” he added.

R&I recently gave the Philippines an A- rating with a stable outlook, the highest rating that the country has received so far.

“The Philippine economy will likely see stable growth and continuous improvement in the level of national income against the backdrop of active public and private sector investments, the development of domestic business sectors such as business process outsourcing, and favorable demographics, among other elements,” R&I said.

“The fiscal balance as a share of gross domestic product, which had deteriorated during the COVID-19 pandemic, has improved, and the government debt ratio will likely start falling in a year or two.” — VBL, GMA Integrated News

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