Fitch rating a vote of confidence on Dutertenomics — Dominguez
Observations made by this global credit rater proves that the Philippines is on the right track.
Finance Secretary Carlos Dominguez III welcomed the decision of Fitch Ratings to affirm the country’s credit rating at “BBB” stable, one notch above minimum investment grade.
The Philippines is credit-worthy in the eyes of Fitch amid solid economic growth and reform policies.
“This is another recognition of the bold economic policy of the Duterte administration to fix the flawed tax system for the first time in over 20 years, and at the same time provide a steady revenue stream for its ‘Build, Build, Build’ infrastructure development initiative as well as for social programs that would accelerate poverty reduction and grow the middle class,” Dominguez said in a statement.
It’s a fitting commentary ahead of President Rodrigo Duterte’s third State of the Nation Address.