INQUIRER: FITCH RAISES CREDIT RATING TO INVESTMENT GRADE BBB
- It also cited the previous administration's role in improving the fiscal management, to wit: "Improvements in fiscal management begun under President Arroyo have made general government debt dynamics more resilient to shocks."
Concerns: Fitch pointed out, however, that the Philippines should address several concerns about its economy to ensure it retains its investments grade. Fitch said the country, which has a population of more than 90 million, had an average individual annual income of $2,600 in 2012, way below the average of $10,300 in countries that have comparable credit ratings. The international credit-rating firm likewise cited the need for the Philippines to cut bureaucratic red tape that discourages investments.
- It also cited the previous administration's role in improving the fiscal management, to wit: "Improvements in fiscal management begun under President Arroyo have made general government debt dynamics more resilient to shocks."
Concerns: Fitch pointed out, however, that the Philippines should address several concerns about its economy to ensure it retains its investments grade. Fitch said the country, which has a population of more than 90 million, had an average individual annual income of $2,600 in 2012, way below the average of $10,300 in countries that have comparable credit ratings. The international credit-rating firm likewise cited the need for the Philippines to cut bureaucratic red tape that discourages investments.
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