Moody’s Ratings on Friday affirmed its investment-grade rating of “Baa2” with a stable outlook for the Philippines, citing the country’s economic liberalization, fiscal consolidation and strong macroeconomic fundamentals.
The Philippines’ gross domestic product grew 6.3 percent in the second quarter of 2024, faster than the first quarter’s upwardly-revised 5.8 percent and 4.3 percent in the second quarter of 2023. Data showed that in the first five months of 2024, FDIs registered net inflows of $4 billion, up by 15.8 percent from $3.5 billion in same period last year.
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