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Tokyo-based debt watcher rises PH rating

Posted by graham on August 23rd, 2013 in About the Philippines

Rating and Investment Information, a Tokyo, Japan-based debt watcher have raised the Philippines rating outlook to a “positive” and added that an upgrade could be not too far behind.

According to analysis, the domestic economy has begun to grow due to the continuous remittance from Overseas Filipino Workers (OFWs), public investment expansion and a stable inflation rate.

The Secretary of the Department of Finance, Cesar Purisima, commended the Japanese agency for recognising the country’s fiscal management and the government’s efforts to attain peace in Mindanao for the sake of inclusive growth.

Secretary Purisima said that it was a timely and balanced evaluation of the country.

Source: Solar News