The Bangko Sentral ng Pilipinas (BSP) welcomes S&P Global Ratings (S&P)’s affirmation of the country’s long-term “BBB+” and short-term “A-2” sovereign investment-grade credit ratings with a positive outlook.

S&P said its decision reflects the country’s above-average economic growth potential, strong external position, policy continuity, and reforms that improve the investment climate.

BSP Governor Eli Remolona, Jr. said, “S&P’s rating decision confirms our view of the favorable long-term economic growth prospects.”

In a separate statement, Finance Secretary Frederick Go underscored that the affirmation of Standard & Poor’s (S&P) ‘BBB+’ credit rating with positive outlook for the Philippines is proof of the country’s strong macroeconomic fundamentals and the administration’s sustained commitment to pursuing fiscal consolidation.

“We welcome this development. We will ensure that every policy decision will support sustainable growth and long-term stability,” he said.

“Having a high credit rating will benefit Filipinos because this means cheaper financing for the government, and in effect, more resources for essential public services. This supports our goal of uplifting the life of every Filipino,” the Finance Chief added.

S&P noted the central bank has a track record of keeping inflation low, and a history of independence. BSP-DOF Information Management Service