MLA STANDARD: GARY OLIVAR
- The reaction was a bit muted from the Palace - and understandably so, since the ratings agency took pains to remind the reader where the credit really belongs:
"Improvements in fiscal management BEGUN UNDER PRESIDENT ARROYO have made general government debt dynamics more resilient to shocks. Strong economic growth and moderate budget deficits have brought the general government debt to GDP ration in line with the BBB median."
- The reaction was a bit muted from the Palace - and understandably so, since the ratings agency took pains to remind the reader where the credit really belongs:
"Improvements in fiscal management BEGUN UNDER PRESIDENT ARROYO have made general government debt dynamics more resilient to shocks. Strong economic growth and moderate budget deficits have brought the general government debt to GDP ration in line with the BBB median."
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