Senator Sherwin Gatchalian applauded Standard & Poor’s recent affirmation of the Philippines’ investment grade rating of BBB+ and the upgrade of the outlook from “stable” to “positive.”
This, he said, reflects the government’s commitment to fiscal discipline and economic growth.
The credit rating agency cited several factors for the outlook upgrade, including effective policymaking, fiscal reforms, and the country’s above-average growth potential.
Gatchalian noted that the recent enactment of Republic Act 12066, also known as the CREATE MORE Act, is expected to attract more investments by enhancing the global competitiveness of the country’s tax incentives.
Gatchalian is the author and sponsor of the CREATE MORE Act.
Additionally, the senator reiterated his commitment to support the Marcos administration’s economic agenda as the Senate and the House of Representatives reconcile provisions during the deliberations of the Bicameral Conference Committee on the proposed General Appropriations Bill, which allocates a national budget of P6.352 trillion for the 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 advocate for legislation that promotes the government’s economic agenda,” he said.
