The Philippines has attained a credit rating upgrade of A-minus from the Rating and Investment Information Office based in Tokyo, Japan, and the President reports it is "our highest rating to date."
President Ferdinand "Bongbong" Marcos Jr. said in his announcement yesterday, August 18, that this meant investors were highly confident in our burgeoning economy.
This upgrade also corresponds to an "upgrade" in every Filipino's lives, he continued.
"This will help us bring down borrowing costs and secure cheap and affordable financing for the government, businesses and ordinary consumers," Marcos explained.
This means that, instead of shelling out to pay off interest, funds saved could be put towards various public services like building infrastructure, healthcare facilities, and classrooms.
"This will help us invest more on our people—paving the way for more Carlos Yulos in the near future," the President said.
Maintaining the country's credit rating would also bring about more investments and added businesses, which will in turn bring about quality jobs with higher pay.
"Bagama’t ito ang kauna-unahang credit rating upgrade ng aking administrasyon, hindi po tayo hihinto rito," Marcos assured.
"We will keep giving our best to make sure that every Filipino benefits from economic growth until we break the cycle of poverty. Tuloy po ang laban para sa Bagong Pilipinas!"
