Gatchalian applauds S&P credit rating affirmation and outlook upgrade
November 29, 2024
Gatchalian applauds S&P credit rating affirmation and outlook upgrade
Senator Win Gatchalian applauded Standard & Poor's recent affirmation of the Philippines' investment grade rating of BBB+ and an outlook upgrade of "positive" from "stable" previously, saying it reflects the government's commitment to fiscal discipline and economic growth.
"Despite political tensions, we are confident that the improved credit rating outlook would further enhance the country's competitiveness as a destination of foreign investments supportive of economic growth and job creation for the benefit of our people," said Gatchalian, chair of the Senate Committee on Ways and Means.
Factors cited by the credit rating agency for the outlook upgrade include effective policymaking, fiscal reforms, and above-average growth potential, among others.
According to Gatchalian, the recent enactment into law of Republic Act 12066 or the CREATE MORE Act, which enhances the global competitiveness of the country's tax incentives, is expected to attract more investments. Gatchalian is the main author and sponsor of CREATE MORE.
Gatchalian also reiterated his commitment to support the Marcos administration's economic agenda as the Senate and the House of Representatives reconcile provisions during the Bicameral Conference Committee deliberations on the proposed General Appropriations Bill, which allocates a P6.352 trillion national budget for next year.
"The current administration has already made significant strides in advancing economic development over the past two years. We will continue to support and push for legislation that would advance the government's economic agenda," he said.
"Umaasa tayong tuloy tuloy ang paglago ng ekonomiya sa mga darating na panahon para sa kapakinabangan ng ating mga kababayan," he added.
Gatchalian pinuri ang S&P credit rating affirmation at outlook upgrade para sa Pilipinas sa gitna ng ingay sa pulitika
Pinuri ni Senador Win Gatchalian ang investment grade rating na ibinigay ng Standard & Poor's sa Pilipinas na BBB+ at ang pag-upgrade sa outlook nito na "positive" mula sa dating "stable." Sabi ni Gatchalian, ito ay sumasalamin sa pangako ng gobyerno na fiscal discipline at paglago ng ekonomiya.
"Sa kabila ng mga tensiyon sa pulitika, tiwala ako na ang credit rating outlook ay higit na magpapahusay sa competitiveness ng bansa bilang isang destinasyon ng mga dayuhang mamumuhunan na siyang susuporta sa paglago ng ekonomiya at paglikha ng trabaho para sa kapakinabangan ng ating mga kababayan," sabi ni Gatchalian, chairperson ng Senate Committee on Ways and Means.
Kabilang ang epektibong policymaking, fiscal reforms, at above-average growth potential sa mga dahilan na binanggit sa credit rating outlook.
Ayon sa mambabatas, ang pagsasabatas ng Republic Act 12066 o ang CREATE MORE Act, na nagpapahusay sa global competitiveness ng tax incentives ng bansa, ay inaasahang makakaakit ng mas maraming pamumuhunan. Si Gatchalian ang pangunahing may-akda at sponsor ng CREATE MORE.
Inulit ni Gatchalian ang kanyang pangako na suportahan ang economic agenda ng administrasyong Marcos sa gitna ng pagtalakay ng dalawang kapulungan ng Kongreso sa Bicameral Conference Committee ng panukalang pondo ng bansa na P6.352 trilyon para sa susunod na taon.
"Ang kasalukuyang administrasyon ay nakagawa na ng makabuluhang hakbang sa pagsusulong ng pag-unlad ng ekonomiya sa nakalipas na dalawang taon. Patuloy nating susuportahan ang batas na magsusulong sa economic agenda ng gobyerno," aniya.
"Umaasa tayong tuloy tuloy ang paglago ng ekonomiya sa mga darating na panahon para sa pakinabang ng ating mga kababayan," dagdag ni Gatchalian.
