S&P however also warned that it “may lower the rating if the Philippines' nascent economic recovery falters over the next 24 months.”
“The stable outlook reflects our expectation that the Philippines' economy will achieve a healthy economic recovery and that its fiscal deficits will decline significantly over the next two to three years,” S&P added. The Bangko Sentral ng Pilipinas said S&P’s move shows that “the Philippines continues to defy the wave of credit rating downgrades and negative outlook revisions across the globe.”
S&P’s affirmation of the country’s rating supports the government’s optimism that the Philippines can bring back its deficit and debt ratios as well as growth to pre-pandemic levels once the pandemic is contained, the BSP quoted Finance Secretary Carlos Dominguez.
PH has the worst growth rate at -9.5% in 2020. The lowest in ASEAN. How can the rating be retained?
👊👊👊🇵🇭
Positive saan? Baon sa UTANG na trillion tapos maraming jobless at nagsarang negosyo? 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Salamat PNoy!
Paano kaya ittwist ni jcpunongbayan ito para maging negative?