As the Philippine economy continues to strengthen, it has earned another credit rating upgrade.

From a BBB- rating by Standard & Poor’s Global Ratings, the country has moved to a BBB Positive rating.

This means the country has the capacity to pay its debts, although the economic environment could still pose challenges.

Economic managers believe this reflects strong investor confidence in the Philippines.

“With this positive outlook, we are looking at another upgrade within the next 24 months. This brings a more optimistic economic picture, particularly in terms of access to credit,” said Sec. Arsenio Balisacan, National Economic and Development Authority (NEDA).

“There’s a lot of interest in our country. We look forward to welcoming more international and foreign investors,” said Sec. Maria Cristina Roque, Department of Trade and Industry (DTI).

S&P based its rating on the government’s implemented policies. Key factors include the passage of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE) and reforms like the Public-Private Partnership (PPP) Code.

To support this progress, the government needs to continue projects aimed at improving Filipinos’ lives.

“The president emphasizes this in the Philippine Development Plan,” Balicasan mentioned.

The government assures the public that it will further improve the economy to achieve an A rating, one of the most prestigious credit ratings.

A credit rating measures the ability of a government or institution to repay its debts.

**CHARLES NIKKO LIMON