Economic growth is not affected by political noise: DOF
Political issues are not affecting the performance of the Philippine economy, an official of the Department of Finance (DOF) assured on Saturday.
According to Finance Undersecretary Domini Velasquez, investor confidence has not waned despite the growing noise in the political arena.
“Actually, matagal nang mukhang hindi masyadong naaapektuhan. Nadi-differentiate ng mga investors iyong economic versus iyong political,” Velasquez told a news forum in Quezon City.
Velasquez cited the recent credit rating upgrade of the country from Japan’s largest credit rating agency this week. The rating upgrade affirmed the country’s growing and strengthening economy.
“Kahit investors, nakikita natin pumapasok iyong investors… hiwalay talaga iyong, I guess, politics,” she said.
“Siguro makukumpara mo sa Thailand. ‘Di ba iyong Thailand nagkaroon sila na medyo issue din na political tapos bumaba iyong ekonomiya nila. In the Philippines, hindi iyon nangyayari,” she added.
The Rating and Investment Information, Inc. (R&I) upgraded the Philippines’ credit rating to “A-” with a stable outlook from “BBB+” last year.
At present, the Philippines holds an “A-” rating from the Japan Credit Rating Agency (JCR), “BBB” from Fitch Ratings, “Baa2” from Moody’s Ratings, and “BBB+” from Standard & Poor’s (S&P) Global Ratings. Presidential News Desk
