In September 2021, Japan Credit Rating Agency (JCR) affirmed the Philippines’ long-term foreign currency issuer rating at A- with a stable outlook.
This credit rating indicates that the Philippines has a relatively low credit risk and is a favorable country for foreign investments. The stable outlook indicates that JCR expects the Philippines’ economic and financial performance to remain steady in the near future.
JCR cited several factors that supported its decision, including the Philippine government’s ongoing efforts to control the COVID-19 pandemic, the country’s strong external liquidity position, and a stable banking system.
Overall, JCR’s affirmation of the Philippines’ A- credit rating with a stable outlook reflects confidence in the country’s economic prospects and its ability to maintain financial stability in the face of ongoing challenges.
This confirmation confirms the country’s solid macroeconomic fundamentals, as evidenced by strong economic growth in 2022 at the level of 7.6%, which exceeds the Budget Coordination Committee of Development’s (DBCC) growth assumptions of 6.5-7.5% surpassed. 카지노사이트
Working and employment conditions in the country have also continued to improve, with unemployment and underemployment rates generally stable and low since late 2022. cheap interest rates. It also increases investor confidence in the country, which can lead to more foreign direct investment (FDI). JCR also cited the country’s resilient banking system, which remains “robust”. In 2022 the national debt (NG) stabilized at 60.9% gross domestic product (GDP), which is below the target of 61.8%. set in the medium-term budgetary framework (MTFF).
In addition, the latest Bureau of State Treasury (BTr) report showed that NG’s budget deficit fell to 7.3% of GDP from 8.6% in 2021.Recent fiscal performance is also better than the 7.6% MTFF target for 2022. “The Marcos administration is committed to maintaining a strong macroeconomic foundation and meeting its fiscal targets through sound fiscal management. Recent structural reforms will also allow the country to weather the shocks of the pandemic and pave the way for recovery,” Finance Minister Benjamin Diokno said.
The government is taking a comprehensive approach to dealing with the recent surge in inflation.
Bank Ko Sentral ng Pilipinas (BSP) stands ready to take all necessary policy measures to bring inflation back to the government’s target of 2-4% in the medium term. In addition, the tax authorities are taking a comprehensive approach to boost inflation in the short-term while taking medium and long-term measures to stabilize food inflation, ensure food security and reduce the cost of living for all Filipinos.
Under the Philippine Development Plan (PDP) 2023-2028, the government will lead the country on a path that promotes inclusive growth, provides equal opportunities for Filipinos and enables them to participate in an innovative and competitive economy on a world scale. 온라인카지노사이트
A credit rating is an assessment of the creditworthiness of a borrower, in this case, the Philippines. It reflects the borrower’s ability to repay its debts, including interest payments, on time and in full.
Japan Credit Rating Agency (JCR) is one of the major credit rating agencies in the world, and it is based in Japan.
An “A” rating is generally considered a high credit rating, indicating that the borrower has a strong capacity to meet its financial obligations. A stable outlook suggests that the rating agency expects the borrower’s creditworthiness to remain relatively stable in the near future.
Global uncertainty and high inflation are important factors that can affect a borrower’s creditworthiness. Inflation erodes the purchasing power of a currency and can lead to higher interest rates, which can increase the cost of borrowing for the borrower. Global uncertainty can also have an impact on a borrower’s creditworthiness, as it can affect economic growth, trade, and investment.
Overall, the confirmation of the Philippines’ A rating with a stable outlook by JCR suggests that the rating agency believes that the country has a strong capacity to repay its debts despite the current global uncertainty and high inflation. 바카라사이트