JCR affirms PH investment grade status

📆 10.03.2023 16:30:00
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In a report on Friday, Mar. 10, a Japanese credit watcher maintained Manila’s ‘A-’ rating, which indicates lower credit risk and entails better access to the international debt market at favorable interest rates. READ:

Debt-watcher Japan Credit Rating Agency affirmed the Philippines’ investment-grade credit status with a stable outlook amid global uncertainties and a high inflation environment.

Diokno also said the country’s labor and employment conditions continued to improve, with generally steady and low unemployment and underemployment rates since the end of 2022. Furthermore, the Bureau of the Treasury’s latest cash operations report showed that the budget deficit narrowed down to 7.3 percent of GDP from the 8.6 percent in 2021. The latest fiscal outturn is also better than the MTFF target for 2022 at 7.6 percent.

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