Global credit watcher Moody’s Ratings has affirmed the Philippines' investment-grade credit rating at “Baa2” with a stable outlook on the economy, taking into account the country’s liberalization and fiscal consolidation efforts.This development was disclosed by the Bangko Sentral ng Pilipinas on Friday.BSP Governor Eli Remolona Jr. said the central bank “welcomes Moody’s affirmation of the country’s investment-grade rating.
In the second quarter of 2024, the country’s economic growth, as measured by gross domestic product , clocked in at 6.3%.Moreover, foreign direct investment net inflows from January to May 2024 increased by 15.8% to $4.0 billion, from $3.5 billion during the same period in 2023.Moody’s is expecting FDI inflows into the country to continue rising in 2024 to 2025.