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President Ferdinand R. Marcos Jr. presides a sectoral meeting on the Creation of Cabinet Cluster for Education on August 13, 2024. Yummie Dingding, PPA pool

President Ferdinand R. Marcos Jr. presides a sectoral meeting on the Creation of Cabinet Cluster for Education on August 13, 2024. 

Yummie Dingding, PPA pool

Article (news)

MARCOS

Katrina Domingo

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:960px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/172389221413620240813-marcos-education-cluster-PPA2.jpg" style="width:960px" class="fr-fic fr-dib" alt="President Ferdinand R. Marcos Jr. presides a sectoral meeting on the Creation of Cabinet Cluster for Education on August 13, 2024. Yummie Dingding, PPA pool"/><span class="fr-inner" style="text-align:left">President Ferdinand R. Marcos Jr. presides a sectoral meeting on the Creation of Cabinet Cluster for Education on August 13, 2024. <em>Yummie Dingding, PPA pool</em></span></span></span></div><p>MANILA — President Ferdinand Marcos Jr. on Saturday announced that the Philippines received an A- credit rating upgrade, the country&#x27;s &quot;highest rating to date.&quot;</p><p>The Japan-based Rating and Information Inc (R&amp;I) gave the Philippines an A- rating in August 2024, an upgrade from the country&#x27;s BBB+ rating last year.</p><p>&quot;Nagpapatunay po ito na malakas ang kumpiyansa ng mga investor sa sigla ng ating ekonomiya,&quot; Marcos Jr. said in a statement posted on his social media accounts.</p><p>&quot;This will help us bring down borrowing costs and secure cheap and affordable financing for the government, businesses and ordinary consumers,&quot; he said.</p><div><a class="fr-green fr-strong" href="https://news.abs-cbn.com/business/2024/8/14/philippines-aiming-for-a-credit-rating-dbm-1200">READ: PH gets second &#x27;A&#x27; credit rating from Japan agency</a></div><p>&quot;Ibig sabihin, sa halip na gumastos tayo para sa pagbayad ng interes, magagamit natin ang matitipid na pera para sa iba&#x27;t ibang pampublikong serbisyo gaya ng imprastraktura, healthcare facilities at pagpapatayo ng mga silid-aralan para sa ating mga mag-aaral,&quot; he added.</p><p>While Marcos Jr. did not mention particular projects, he noted that the new investment rating &quot;will help us invest more on our people – paving the way for more Carlos Yulos in the near future,&quot; referring to the two-time Olympic gold medalist.</p><p>&quot;Ang patuloy na pagpapabuti ng ating credit rating ay maghahatid ng mas maraming investments at dagdag na negosyo sa ating bansa na magdadala ng maraming kalidad na trabaho at mas mataas na kita para sa bawat Pilipino,&quot; the President said.</p><p>&quot;Bagama&#x27;t ito ang kauna-unahang credit rating upgrade ng aking administrasyon, hindi po tayo hihinto rito,&quot; he said.</p><p>&quot;We will keep giving our best to make sure that every Filipino benefits from economic growth until we break the cycle of poverty.&quot;</p><p>Among the factors that improved the Philippines&#x27; credit rating include the countries&#x27; &quot;sustained economic growth, prudent fiscal management, stable banking sector, and resilient private consumption,&quot; the Presidential Communications Office (PCO) said in a social media post.</p><p>The Philippines&#x27; ability to &quot;successfully control inflation within the target of 2-4 percent,&quot; keeping external risks manageable, and the country&#x27;s &quot;strategic positioning&quot; in the world&#x27;s largest economy also contributed to the credit rating upgrade, according to the post.</p><p>&quot;Our inclusion in the US semiconductor supply chain is a game-changer, opening up new investment opportunities and reinforcing our strategic position on the global stage,&quot; it read.</p><div><br/></div><div><br/></div><div><br/></div>

<p>President Ferdinand Marcos Jr. on Saturday announced that the Philippines received an A- credit rating upgrade, the country's "highest rating to date."</p>

President Ferdinand Marcos Jr. on Saturday announced that the Philippines received an A- credit rating upgrade, the country's "highest rating to date."

'Highest rating to date': Marcos Jr. touts PH's A- credit rating upgrade

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'Highest rating to date': Marcos Jr. touts PH's A- credit rating upgrade

Katrina Domingo,

ABS-CBN News

Published Aug 17, 2024 06:58 PM PHT

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