Davao City 1st District Rep. Karlo B. Nograles hailed Wednesday the Duterte administration for enforcing the correct economic and fiscal policies following the Standard & Poor’s improved credit rating for the Philippines.
S&P recently raised its outlook for the Philippines’ credit rating from “stable” to “positive.”
A “positive” outlook means there is a chance for the country’s credit rating with S&P – currently at “BBB,” which is a notch above the minimum investment grade – to be upgraded over the short term.
“Administration critics and naysayers have always pictured the country’s economic future as a dark spot. In truth, this administration has been making the right moves to ensure that the Philippines would avoid stagnation. It’s all about positioning the economy for improvement; right now, our credit ratings say that we are in a good and desirable spot in the region,” Nograles said.
He cited that the administration’s “build, build, build” program has set the stage for massive infrastructure spending that has created tens of thousands of jobs and increased investment opportunities for the country.