S&P affirms PH’s BBB+ credit rating

S&P affirms PH’s BBB+ credit rating

Debt watcher S&P Global Ratings affirmed the Philippines’ BBB+ credit rating, projecting that the country’s growth is expected to accelerate further as more people get vaccinated for COVID-19.

In a report, S&P stated that they “believe the Philippines will continue to have good economic recovery prospects once the COVID-19 pandemic is contained, and that the government’s fiscal performance will strengthen accordingly.”

Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said that the affirmation “underscored the view that the impact of the COVID-19 crisis on the economy would be transitory and that the Philippines continues to enjoy bright medium-term growth prospects.”

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