Every Pinoy to benefit from PH’s improving economy: Marcos
Every Filipino will benefit from the economic growth of the country as it eventually breaks the cycle of poverty in the near future.
President Ferdinand R. Marcos Jr. gave this assurance after the Japan-based Rating and Investment Information, Inc. (R&I) upgraded the Philippines’ investment-grade rating to “A-” amid its strong economic performance.
In his message Saturday, President Marcos said the country’s highest rating to date manifests high investor confidence in the Philippine economy, noting it’s also an upgrade on the lives of ordinary Filipinos.
He said the latest upgrade would cut borrowing costs and secure cheap and affordable financing for the government, businesses, and ordinary consumers.
This means instead of paying interest, the government could spend on public services like infrastructure, healthcare facilities, and the construction of school buildings for young Filipinos.
“This will help us invest more on our people ? paving the way for more Carlos Yulos in the near future,” the President said.
“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,” he added.
“Bagama’t ito ang kauna-unahang credit rating upgrade ng aking administrasyon, hindi po tayo hihinto rito. We will keep giving our best to make sure that every Filipino benefits from economic growth until we break the cycle of poverty.”
The R&I cited macroeconomic stability and high economic growth as the basis for the ratings upgrade to ‘A-,’ one notch up from the country’s previous rating of “BBB+” in August last year.
The Philippines was also upgraded to a “stable” outlook from the previous “positive” grade given by the credit rating firm. Presidential News Desk
