DOF determined to keep PH’s “A-” credit rating until 2028
The Department of Finance (DOF) is determined to help the country get an “A-“ score from all credit rating agencies by the end of President Ferdinand Marcos Jr.’s term.
Playing a major role in achieving the goal is the government’s medium-term fiscal framework, Secretary Ralph Recto said in a Palace briefing on Tuesday.
“Mayroon tayong medium-term fiscal framework plan at nakikita nila credible iyong plano natin,” Recto said.
Recto said the government is continuously following its medium-term fiscal framework plan, aiming to reduce deficit by 3.8 percent by 2028.
Credit rating agencies are considering the plan as credible. The same plan allowed the country to receive upgraded rating from Japan’s Rating and Investment Information, Inc. (R&I).
In August this year, R&I upgraded its rating on the Philippines to “A-“ with stable outlook from last year’s “BBB+” with positive outlook.
“We did get a credit rating upgrade from R&I. This is a Japanese rating agency,” he said.
“And conscious tayo sa programa natin. [This is the] road to A [rating]. Of course by 2028, we want that all the rating agencies will give us a grade of A, kahit A minus, puwede na,” Recto added. Presidential News Desk
