Philippines’ Credit Rating Upgraded: A Boost for Foreign Investments and Economic Growth

Senator Win Gatchalian praised Standard & Poor’s for reaffirming the Philippines’ investment grade rating of BBB+ and upgrading the outlook from stable to positive. He stated this decision shows the government’s commitment to maintaining fiscal discipline and promoting economic growth.

Gatchalian, who chairs the Senate Committee on Ways and Means, emphasized that this improved credit rating would make the Philippines a more attractive destination for foreign investments, which can boost economic growth and create jobs.

The credit rating agency noted several reasons for the outlook upgrade. These include effective policymaking, fiscal reforms, and the country’s strong growth potential. Gatchalian pointed to the recent passage of the CREATE MORE Act, which aims to improve the country’s tax incentives and attract more investments.

He expressed his support for the economic agenda of the Marcos administration as lawmakers work to finalize the proposed national budget of P6.352 trillion for next year. Gatchalian acknowledged the government’s recent progress in promoting economic development and pledged to continue backing legislation that supports this agenda.

He concluded with hope for sustained economic growth that can benefit the Filipino people.