The Philippines’ recent credit rating outlook upgrade to “positive” by S&P Global Ratings reflects the unified leadership and effective governance of President Ferdinand Marcos Jr., showcasing the administration’s commitment to economic stability and growth despite challenges besetting the nation.
Speaker Ferdinand Martin Romualdez, leader of the 300-plus-strong House of Representatives, said this, adding the international credit rating organization’s credit upgrade of the Philippines marks a significant step toward achieving an ‘A’ sovereign rating.
The upgrade highlights the nation’s improved fiscal management, robust economic reforms and policy environment conducive to long-term development, Romualdez said in a press release as he emphasized the vital role of Congress in supporting economic policies that drive growth.
Among these initiatives are the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act or simply, the “Create More” Act, and key tax reform measures, which have attracted investments and boosted economic activity.
These legislative efforts have been pivotal in achieving the upgraded credit rating outlook. “What does this upgrade mean? Mas marami ang mag-iinvest sa ating bansa dahil sa rating na ito. Mas maraming investment, mas lalago ang ating ekonomiya at mas dadami ang trabaho para sa ating mga kababayan,” Romualdez said.
President Marcos has steered the country through challenging times, ensuring that the economy remains robust and capable of competing on the global stage, he added.
He also highlighted the administration’s focus on inclusive growth, particularly through infrastructure development and social programs aimed at uplifting underserved sectors of society.
S&P’s recognition serves as a reminder of the importance of sustaining the reforms and policies that have brought the country this far, Romualdez said as he called on all sectors to rally behind the administration’s efforts to sustain the country’s upward trajectory. ||
