MANILA: The Department of Finance assured on Saturday that ongoing political issues are not affecting the country’s economic performance.
At a weekly forum in Quezon City, Finance Undersecretary Domini Velasquez said that investor confidence has not waned despite the growing noise in the political arena.
‘Actually, matagal nang mukhang hindi masyadong naaapektuhan. Nadi-differentiate ng mga investor iyong economic versus iyong political (Actually, there has been no effect for a long time now. Investors could differentiate economic from political),’ she said.
Velasquez cited the recent upgrade of the country from Japan’s largest credit rating agency, affirming growing and strengthening economy.
The Rating and Investment Information, Inc. (R and I) upgraded the Philippines’ credit rating to ‘A-‘ with a stable outlook from ‘BBB+’ last year.
At present, the Philippines holds an ‘A-‘ rating from the Japan Credit Rating Agency (JCR), ‘BBB’ from Fitch Ratings, ‘Baa2’ from Moody’s Ratings, and ‘BBB+’ from Standa
rd and Poor’s (S and P) Global Ratings.
Source: Philippines News Agency