Senator Recto believes JCR’s good credit rating helps regular Filipinos

Finance Secretary Ralph G. Recto highlights that the recent affirmation of the Philippines’ investment-grade credit rating by Japan Credit Rating Agency (JCR) will directly benefit ordinary Filipinos. The favorable credit rating will enable more funds to be allocated to development programs, such as infrastructure projects, social services, healthcare, and education. JCR’s reaffirmation of the Philippines’ credit rating of “A-” with a stable outlook is seen as a positive indicator of the country’s fiscal and economic policies. A high credit rating enhances the country’s creditworthiness, attracting more foreign investments and resulting in lower interest rates for Philippine bonds. JCR also acknowledges the country’s sustained economic growth, low government debt-to-GDP ratio, and robust foreign currency liquidity position. The agency projects further economic growth in 2024, driven by various factors including infrastructure investments under the President’s Build Better More program and the establishment of the Maharlika Investment Fund. JCR expects the government to maintain fiscal soundness based on the Medium-Term Fiscal Framework (MTFF).

Politics News: Senator Recto believes JCR’s good credit rating helps regular Filipinos