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DOF, tiwalang lalago pa ang ekonomiya ng bansa sa ilalim ng Marcos Jr. administration
PTVPhilippines
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11/27/2024
DOF, tiwalang lalago pa ang ekonomiya ng bansa sa ilalim ng Marcos Jr. administration
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Transcript
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00:00
The country's economic managers are urging the country to increase the credit ratings of the Philippines
00:05
because they expect it will help the country's economy to continue flourishing.
00:10
The details are in the news report of Kenneth Paciente of PTV Manila.
00:17
The government believes that the country's economy will continue to flourish
00:20
under the administration of President Ferdinand R. Marcos Jr.
00:24
That is after the S&P Global Ratings upgraded the economic outlook of the Philippines
00:29
to positive from the previous stable.
00:31
The country also maintained its BBB Positive Credit Ratings.
00:35
This became the mark of the S&P in the country
00:38
because it saw earnings such as the above average growth potential of the Philippines,
00:42
the implementation of effective police and fiscal reforms,
00:46
as well as the improvement of the country's infrastructure and policy environment.
00:50
According to the DOF,
00:52
because of this mark, the Philippines will have greater access to cheaper
00:56
and cost-effective expenses in lending to the government and the private sector.
01:02
The reason is so that the government's project funds can be used
01:06
including infrastructure, healthcare, education, and others.
01:10
This is just a proof that investors have great confidence
01:14
in the run of the Marcos Jr. administration in the country's economy
01:18
because of its stable economic environment.
01:20
The DOF also believes that there will be additional upgrades to the country's ratings
01:25
in the coming time,
01:27
which was approved by the government's economic managers.
01:30
According to them,
01:31
the administration is determined to increase the country's rating to A
01:36
and they believe that it can be used without affecting the country's political challenges.
01:41
According to the group,
01:43
it is possible for the country to reach this within two years.
01:46
They also believe that this development reflects that the country's fiscal consolidation plan is on track.
01:52
They also believe that the create more law and public-private partnership law
01:58
were approved by the President.
02:00
This is just a proof of the country's stability in the face of challenges
02:05
such as calamities, geopolitical tensions, and others.
02:08
The economic managers also believe that business as usual is the government
02:12
in the face of the current issues.
02:15
They will help the various branches of the government towards the prosperity of the country.
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