Category : Press Release
Date : July 06, 2017
Agency : Department of Finance
Title : Finance Secretary Carlos Dominguez III's Statement on JCR's Affirmation of PH's Credit Rating
Article : *On the BBB+ rating and stable outlook of JCR:

“Our BBB+ rating with JCR, along with our investment grade credit ratings with other rating agencies, adds to the plethora of positive assessments of the Philippine economy by local and foreign business groups and multilateral agencies under the leadership of President Duterte.”  

“The Philippines will stay on a path of robust growth, as JCR projected, and of making the growth more inclusive. Under the 10-point socioeconomic agenda of the Duterte administration, the government will spend much more on infrastructure and social services. Spending will be larger in the poorest areas of the country so that they can attract more job-generating investments and so that residents will have better chances of getting better quality jobs.”

“All this will be done while observing fiscal discipline and remaining mindful of debt manageability.”  
*On JCR’s statement that it will monitor developments in Mindanao, which has been placed under Martial law:   

“With Martial Law in place in Mindanao, the Government shows it is on top of the situation—that it is containing the conflict in Marawi City and committed to restoring peace in that area and in all of Mindanao,” he said.

“With the Duterte administration’s focus for national security, the country will enjoy enhanced business confidence moving forward. We see sustained rapid growth in investments, which will help the Philippines catch up with major Southeast Asian economies in terms of attracting FDIs.”