The upgrade was due to the country’s macroeconomic stability, high economic growth path and expected improvements in fiscal condition, according to the R&I website.
In a statement posted on Facebook Saturday night, Marcos said the upgrade reflected investors’ strong confidence in the economy.
“This upgrade is also an upgrade of the life of every Filipino,” the President said.
“While this is the first credit rating upgrade of my administration, we will not stop here. We will keep giving our best to make sure that every Filipino benefits from economic growth until we break the cycle of poverty. The fight for a new Philippines continues!” he added.
This story is from the August 19, 2024 edition of The Philippine Star.
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This story is from the August 19, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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