A stable outlook which means it is unlikely to change within a year. The R&I maintained the country's short term debt rating at a-2, which indicates high certainty that short - term financial obligations would paid. R&I had raised its outlook on the Philippines long term rating to "positive" from "stable".
The Philippines economy continues to show strong growth, due to the private consumption driven by the OFW remittances, which allow to raised our per-capita income steadily.
The R&I noted inflation rates are kept low, and concern about the government’s fiscal position and external liquidity is small. Amid heightened reform momentum, infrastructure and industrial development, which were pending issues, are in good progress.
R&I also said the rollout of more projects under the Public-Private Partnership (PPP) program would help drive more job-generating investments and sustain the rise in incomes.
R&I also recognized the country’s sound macroeconomic fundamentals, including ample foreign-exchange reserves, improving manageability of government debt, and within-target inflation.
It also said reforms instituted by the Aquino administration, including legislative and administrative reforms in tax collection, helped improve the investment climate. R&I expressed belief reforms will be sustained even beyond 2016.
"The upgrade is an expression of confidence, in part, on the ability of the Monetary Authority to implement appropriate and timely measures that ward off threats to economics stability we are enjoying. The BSP will continue to craft policies that will help maintain this stability" Amado Tetangco Jr. BSP governor.
sources: http://www.abs-cbnnews.com/business/07/09/14/philippines-gets-another-credit-rating-upgrade
http://www.sunstar.com.ph/breaking-news/2014/07/09/japan-credit-rating-agency-upgrades-phl-rating-352803
http://www.bworldonline.com/content.php?section=Economy&title=Philippines-gets-credit-upgrade-from-R&I&id=90648
P.S. 1. Bernard B. Anduyon is an OFW based in Qatar. He is a speaker and trainor for OFIE-M (Overseas Filipino Investors and Entrepreneur – Movement), a small group of Filipinos that advocates and teaches fellow OFWs to be investors and entrepreneurs. He is also a long-time member of Bo Sanchez' Truly Rich Club http://bernard.trulyrichclub.com.
P.S. 2. If you, your family or friends are based in Qatar, then I’m inviting you to attend our financial literacy talk series every 1st and 3rd Mondays of every month at Al Thumama, Doha. I give talks on diverse topics such as abundance mindset, financial planning, investing and entrepreneurship for Filipinos. I am also a trainor for PINOYWISE-ATIKHA, promoting awareness on issues affecting OFWs and their families as well as financial literacy.
If you want a financial coaching, you can send email to b_anduyon@yahoo.com
Please like the pages:
https://www.facebook.com/OverseasFilipinoInvestorsEntrepreneursMovement
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