WHY DONT THE FILIPINOS INVEST IN THEIR OWN COUNTRY? THERE ARE MANY ANSWERS TO THIS QUESTION. ONE OF THEM IS THIS: THE PARASITIC CRIMINAL AND FEUDAL OLIGARCHY "GOVERNING" THE FILIPINOS DOES NOT WANT TO HAVE NEITHER INTERNAL RESISTANCE NOR INTERNAL COMPETITION TO ITSELF, IT PREFERS TO (CONTINUE TO) SELECT ACCURATELY CROOKS, FEUDAL ENTREPRENEURS AND FEUDAL INDUSTRIES, PARASITES LIKE ITSELF IN ORDER TO MAKE SURE IT DOES NOT LOSE POWER - AND THE 25% POPULATION ABROAD CAN BE INCREASED WITHOUT ANY DANGER FOR IT.
PH’s high credit rating to bring more investments, livelihood – Marcos
PH’s high credit rating to bring more investments, livelihood – Marcos
MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. on Saturday said that the Philippines’ high credit rating from an investment watchdog will attract more investments and improved livelihood programs for Filipinos.
Japan-based Rating and Investment Information, Inc. gave the Philippines an upgraded credit rating of A minus (A-), highlighting economic growth. This is an upgrade from the earlier rating of BBB+ on the government.
“Ang patuloy na pagbababuti ng ating credit rating ay maghahatid ng mas maraming investments at dagdag na negosyo sa ating bansa na magdadala ng maraming kalidad na trabaho at mas mataas na kita para sa bawat Pilipino,” said Marcos in a statement.
(The continuous improvement of our credit rating will bring more investments and additional business opportunities in the country that will provide quality livelihood and higher incomes for every Filipino.)
READ: Philippines gets ‘A’ rating from Japanese credit watchdog
Marcos noted that the upgrade, the first in his administration, means it can help in bringing down costs and securing affordable financing for the government, businesses and livelihood for many Filipinos.
“Ibig sabihin, sa halip na gumastos tayo para sa pagbayad ng interes, magagamit natin ang matitipid na pera para sa iba’t ibang pampublikong serbisyo gaya ng imprastraktura, healthcare facilities at pagpapatayong mga silid-aralan para sa ating mga mag-aaral,” he added.
(This means that instead of spending to pay for our interest, we can use the money for different public services such as infrastructures, healthcare facilities, and construction of classrooms for the students.)
The President also said that the credit rating will improve the lives of the Filipinos, adding that this can be “paving the way for more Carlos Yulo in the near future.”
According to Rating and Investment Information, there will be a stable economic growth and improvement in the national income of the country.
READ: Investment pledges surged 220% to P189B in Q2
“The Philippine economy will likely see stable growth and continuous improvement in the level of national income against the backdrop of active public and private sector investments, development of domestic businesses sectors such as business process outsourcing, and favorable demographics, among other elements,” the report said.
A report of the Philippine Statistics Authority (PSA) said that the country’s unemployment rate went down to 3.1 percent or 2.04 million unemployed Filipinos in June 2024, a 1 percent decrease from the rate of the previous month.
However, the underemployment rate, or the number of Filipinos already working but are still seeking for additional jobs or working longer hours, increased to 12.1 percent in June or 6 million Filipinos, from 9.9 percent in May.
Meanwhile, PSA noted on Thursday that the total foreign investment pledges soared to P189.50 billion from April to June 2024, from the P59.09 billion report in the same quarter last year. This is the highest since the P394.46 billion investment record in the fourth quarter last year.
DID ANYONE EVER ASK THIS MAN THE PRESIDENT OF WHICH COUNTRY HE IS? WONDERLAND?? AND ALICE WAS SARA??? THE ONLY CHANCE FOR SINGLE DIGIT POVERTY RATES IN THE PHILIPPINES IS TO BE INVADED BY CHINA AND THAT THE POLITICOS ARE REPLACED WITH THE CCP. THE POVERTY RATE WILL THEN BE EXACTLY ZERO. AND THE MARCOSES WILL PAY THEIR TAXES.
Marcos: Every Filipino to benefit from improving PH economy
• 6h • 3 min read
President Ferdinand Marcos Jr. PCO Photo
MANILA, Philippines — Filipinos, who are still reeling from the economic impact of the Covid-19 pandemic, will benefit from the improving economic growth of the country as it eventually breaks the cycle of poverty in the near future, President Ferdinand Marcos Jr. said Saturday.
The President issued the statement after the Japan-based Rating and Investment Information, Inc. (R&I) upgraded the Philippines' investment grade rating to "A-" amid its strong economic performance.
In his message Saturday, Marcos said the country's highest rating to date manifests high investors' confidence in the Philippine economy, noting it's also an upgrade on the lives of ordinary Filipinos.
He said the latest upgrade would cut borrowing costs and secure cheap and affordable financing for the government, businesses, and ordinary consumers.
This means instead of paying interest, Marcos said the government could spend on public services like infrastructure, healthcare facilities, and the construction of school buildings for young Filipinos.
"This will help us invest more in our people – paving the way for more Carlos Yulos in the near future," the President said.
"We will keep giving our best to make sure that every Filipino benefits from economic growth until we break the cycle of poverty," he added.
The R&I cited macroeconomic stability and high economic growth path and expected continuous improvement in the country's fiscal balance as the basis for the ratings upgrade to "A-," one notch up from the country's previous rating of "BBB+" in August last year.
The Philippines was also upgraded to a "stable" outlook from the previous "positive" grade given by the credit rating firm.
Single-digit poverty rate.
Also on Saturday, Finance Undersecretary Domini Velasquez said Marcos was on track to attaining a single-digit poverty rate by 2028 with the country's current good economic performance.
"Hopefully by the end of President Marcos' administration, our povery rate will be below 10 percent at single digit. So, we're on track actually to bring down poverty to single digit," Velasquez, the chief economist of the Department of Finance, said during the Saturday news forum in Quezon City.
Among the economic indicators Velasquez cited included the country's second quarter gross domestic product growth, with the Philippine economy expanding to 6.3 percent from the first quarter's 5.8 percent.
She said investments and construction recorded marked increases as the government aggressively funds big ticket infrastructure projects to push the Build Better More program.
But spending among Filipino consumers remains conservative, Velasquez said.
She however expects aggressive spending because of good employment figures and remittances from overseas Filipino workers.
"It seems low because don't you remember two years ago, when our inflation was actually high at 6 percent, it's 5.8 percent last year. But now it's going down so hopefully it'll be better, at least the outlook in terms of household consumption," she said.
The Philippines' unemployment figures are also okay, Velasquez said, adding the latest unemployment number was at 3.1 percent compared with the pre-pandemic record of around 5.1 percent.
Last July, the National Economic and Development Authority reported that despite experiencing domestic and external challenges, the Philippines has made remarkable strides in reducing poverty levels between 2021 and 2023, marking significant progress toward the government's ambitious target of reducing poverty incidence to a single-digit level by 2028.
The PSA released last month the 2023 Full Year Official Poverty Statistics, showing the poverty incidence among the population significantly dropped to 15.5 percent from 18.1 percent in 2021.
Political noise
Meanwhile, the Finance official assured the public that ongoing political issues are not affecting the country's economic performance.
Velasquez said that investor confidence has not waned despite the growing noise in the political arena.
She 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. 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, "BBB" from Fitch Ratings, "Baa2" from Moody's Ratings, and "BBB+" from Standard & Poor's Global Ratings.
"Actually, there has been no effect for a long time now. Investors could differentiate economic from political," Velasquez said.
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